Filene's Basement Markdowns Have Begun in Union Square

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As of Wednesday, Filene's Basement has officially begun liquidating in New York City. According to a sign in the lobby of the Union Square location yesterday, everything is between 10% to 30% off the lowest ticketed price. All dresses and outerwear are 30% off, and men's tailored clothing is 30%. For now, the deals aren't so good that the store is besieged by mayhem. But we'll settle for crowdless aisles filled with already-discounted designer clothing on semi-sale.

We sifted through three floors of racks to come across some cool pieces and deals. In the men's section of the fourth floor, we spotted a Missoni sweater for $143.99 (from $179.99), a multi-print Missoni patchwork jacket for $559.99 (from $699.99), a military-green Hart Schaffner pea coat for $159.99 (from $199.99), a black Michael Kors leather jacket for $159.99 (from $199.99), and a three-piece gray plaid MICHAEL Michael Kors suit for $167.99 (from $239.99). Men's shirts and ties were marked down by 10%.

In the handbag section of the fifth floor, we liked a grapefruit-pink Calvin Klein leather tote for $125.99 (from $139.99), a periwinkle Calvin Klein leather crossbody bag for $40.49 (from $59.99), a brown snakeskin-print Cole Haan crossbody bag for $75.57 (from $111.96), and an Elliott Lucca hobo for $50.60 (from $74.96). Not huge markdowns, sure—but enough to tell yourself you're saving some money.

Standouts in the women's clothing section included a Vivienne Vivienne Tam red houndstooth jacket for $44.99 (pretty, but only marked down from $49.99), a velvet Nanette Lepore dress (in different jewel tones) for $179.99 (from $199.99), and a printed yellow-green Missoni blazer for $559.99 (from $699.99). A tan leather Gianfranco FERRE skirt was buttery-soft and 20% off, though it had no price tag. Three Valentino deals caught our eye: A black knit dress with a crocheted peter pan collar, a baby-pink lace top, and a a lipstick-red tiered chiffon skirt, each $319.99 (from $399.99.)

In the middle of the floor, we also spotted a pair of gorgeous, strappy Giuseppe Zanotti for Balmain heels for $359.99 (from $399.99), funky Pierre Hardy heels for $431.99 (from $479.99), metallic pinkish-red Jean Michel Cazabat heels for $125.99 (from $139.99), and Robert Clergerie for Barneys New York baby-blue and tan suede heels for $116.99 (from $129.99).

The sixth floor was home to lingerie at 10% off, as well as some sweater and party dresses and a whole lot of women's outerwear and more shoes. Among the racks were some black Betsey Johnson puffer coats for $95.99 (from $119.99), which is convenient as it's freezing outside today. Leopard-print was well-represented between London Fog's spotted trenches ($79.99 from $99.99) and Calvin Klein's faux-fur coats ($143.99 from $179.99.) And if you're looking for a classic pea coat, you can choose between Kors Michael Kors in beige for $199.99 (from $249.99) and Dale Dressin in navy blue for $239.99 (from $299.99). Shoe-wise, we liked Gianfranco FERRE black/camel strappy leather heels for $161.99 (from $179.99), and black, jewel-strapped Calvin Klein heels for $69.97 (from $99.95).

Overall, the higher-end stuff is still fairly pricey, but if you don't mind shelling out a few Benjamins, you may want to peruse these racks, since there are quite a few standouts. Otherwise wait till those crazy markdowns start.—KatherinePark
· The Sales Haven't Started at Filene's Basement in Union Square [Racked NY]
· What Filene's Basement's Closing Means for New York [Racked NY]
· Filene's Basement Has Filed for Bankruptcy [Racked National]