Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
The Takashimaya building on Fifth and 54th finally has a new owner, and it's not Swatch. This morning's Post reports that Thor Equities won the bidding war with a price just over $140 million. No word on what they plan to do with the space, but the paper does note that "most prospective buyers had talked of leaving the bottom two or three stories as retail, with the rest turned back into boutique offices for investment-type tenants." [NYP; Previously]