6. What’s Up With The Small Building Next To Macy’s?
The holdout today, covered in a Macy’s sign
Few probably notice the random five-story building, since a red shopping bag sign covers it. This building was actually a famous “holdout” of a feud from the early 1900s between Macy’s and the competing dry goods store Siegel-Cooper.
Macy’s verbally agreed to buy this land plot on 34th street and Broadway. However, an agent from Siegel-Cooper, Robert H. Smith, bought the building for $375,000 in 1900. Why? Siegel-Cooper wanted Macy’s to give it its 14th street store in return for this 34th street location. However, as you can see today, Macy’s then decided to just build around the small area.
By 1931, the small building was already covered in billboard advertisements. Today, the oversized shopping bag sign is displayed through a lease agreement between the building owners.