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This whole thing pretty much started when Macy's decided thay wanted a whole new downtown store built from the ground up to replace the building it inherited from Abraham and Straus (history of the A&S store here)

Macy first proposed a long overdue remodel, then they dropped it for bigger ideas....

Racked article from last July:
http://ny.racked.com/2014/7/16/75864...ntown-brooklyn

Remember those ambitious plans that Macy's had to renovate its Downtown Brooklyn flagship? Well, the company has pretty much thrown them in the trash. WWD is reporting that the company is considering selling the location, taking advantage of good pricing for an up-and-coming neighborhood.

With real estate prices in that area currently going for $300 to $400 a square foot, Macy's could stand to earn $300 million from selling the space that totals 841,000 square feet—"more than enough to fund a new, more compact and productive store," the paper writes.

And that store could be just across the street. WWD says that the department store owns the adjacent parking lot, and that property has been considered for development.

"We are studying ways to improve the Brooklyn store, but really have no comments to make at this time," a Macy's spokeswoman told the paper.

Part of the reason why the original renovation plans may be abandoned could be due to the complicated structure of the building—since it's an amalgamation of three formerly separate buildings, floor and ceiling heights are not uniform throughout.

Another route could be to redevelop the existing structure with apartment units on higher levels and a shrunken version of the department stores on the first few levels, á la the forthcoming Nordstrom.

"I believe they have quite a few options," an unnamed real estate president told the paper. "The building has a lot of problems, making a renovation very complex and very expensive. To start again with a new store would probably be smart."

NY Yimby article (and old renderings) from January:
http://www.yimbynews.com/2015/01/fir...-brooklyn.html


The old 450-458 Fulton Street and possible plan for the building, image by Beyer Blinder Belle/Brookfield


217 Livingston Street,image by Beyer Blinder Belle/Brookfield

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Now, YIMBY has the first reveal of potential plans for the old garage at 11 Hoyt Street (and a neighboring structure at 450-458 Fulton Street), which may be reborn as 217 Livingston Street. Per a piece by The Real Deal last August, the garage comes with 584,000 square feet of air rights, and Macy’s is also requesting that any developer build a 300,000 square foot store.

The images come from a proposal by Brookfield, which is apparently in contention for the purchase of the site, though representatives did not respond to YIMBY’s request for comment. Beyer Blinder Belle is behind the design.

While plans are far from final, Brookfield’s vision looks to depict the refurbishment of the existing garage into a major expansion for Macy’s, likely fulfilling the demand for 300,000 square feet of retail. Besides re-using the old garage, a very tall and glassy residential tower is also featured in the images, though its entire height is not apparent.

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Also of importance is the integration of the old A.I. Namm & Son Department Store into the new project. Located at 450-458 Fulton Street, Brookfield’s plan would expand Macy’s into its base, though signage would be much more prominent on Livingston Street.

Land records indicate that the Macy’s assemblages remain on the market, and per The Real Deal’s report, the garage at 11 Hoyt Street may present a tricky sale. Confusingly, a separate owner from Macy’s – Crown Acquisitions — actually owns several small parcels underneath the existing parking garage, which means that any buyer must deal with demands from both sellers.