The iconic Macy’s “shopping bag” billboard that has loomed over Herald Square for more than 60 years is slated to be demolished and removed this weekend, The Post has learned.
The four-story, red-and-white fixture – tucked into the cut-out corner of the flagship at Broadway and West 34th Street — rests atop a 2,200-square-foot retail space owned by Kaufman Realty, which for years has been leased out to a Sunglass Hut store.
Macy’s and Kaufman have been in negotiations about the ad space, a source with knowledge of the situation told The Post. It couldn’t immediately be learned what exactly will replace the shopping bag, but the billboard is expected to be “modernized,” the source said.
The switch is coming as big, splashy, LED-screen billboards like those that light up Times Square command increasingly lucrative ad rates, real estate experts said.
Macy’s confirmed that the billboard is scheduled to be removed this weekend but declined to elaborate on what will replace it or whether Macy’s will make a bid to continue using the space.
“As the neighborhood continues to evolve, the current sign – while beloved – is outdated and will be removed as part of broader updates by the billboard owner to modernize the space,” Macy’s said in a statement to The Post.
The company also said it will “soon announce refreshed and dynamic branding for Macy’s Herald Square that honors our heritage while reflecting the future of our flagship.”
Kaufman’s chief executive Edward Hart told The Post he was out of town on Friday and declined to comment.
Macy’s sued Kaufman in 2021 over the billboard, alleging that the real estate firm was planning to lease the space to online retail rival Amazon after the Macy’s lease expired.
“To the naked eye, the Billboard is on Macy’s department store and in its own right iconic,” according to Macy’s complaint.
Macy’s argued that an agreement it signed with the building’s owner in 1963 prevents the landlord from leasing the billboard to a competitor of Macy’s – a prohibition that lasts “forever,” according to the lawsuit.
Kaufman allegedly disagreed with Macy’s interpretation of the agreement, according to the lawsuit.
The real estate firm’s lawyer allegedly said that Kaufman has “the right to license the sign space to any off-site advertisers” and will “proceed with alternative advertisers,” according to Macy’s complaint.
The companies appear to have settled that lawsuit.