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Takashimaya will be officially closing its doors at the end of June (provided that they aren't cleaned out of discounted goods earlier) and the vultures are already circling. The NY Post reports that the sale of the 5th Avenue building that housed the venerable institution has already gone into second-round bids. Sadly, the days of multi-floor department stores may be over as the reported plans are to divide the mega-97,000 square foot building into five floors of boutique offices and only three floors of luxury retail. "No one will rent eight floors of retail," an insider tells the Post. Rumor has it that brands including Michael Kors, Harry Winston, Oakley and Desigual have looked at the spaces. May the feeding frenzy begin. [NYP]


693 Fifth Avenue, New York, NY 10022