Macy’s has said goodbye to their iconic billboard. 

The iconic red-and-white Macy’s shopping bag billboard at Herald Square was dismantled this weekend, exposing the historic “holdout” building that has been hidden for decades. 

For sixty years, the massive sign — complete with its signature white tissue paper peaking over the top—served as a festive staple of 34th Street and Broadway. Its removal is stirring both nostalgia among New Yorkers and curiosity about the future of this famous corner, after over a month of delay.

The five-story building now visible beneath the stripped-back facade tells a complex story of New York real estate rivalry. Known as a “holdout,” the structure exists because a competitive downtown retailer purchased the small plot over a century ago to block Macy’s from controlling the entire block. 

“He raced in and bought this little building to prevent them from having domination,” explained Dan Biederman to ABC 7, president of the 34th Street Partnership. Forced to adapt, Macy’s famously built its flagship store around the building, which now reveals its century-old brick architecture with boarded-up windows and weathered exterior.

The removal of the beloved sign reportedly stems from a modern real estate impasse. According to Biederman, the firm that owns the holdout building and the billboard owner failed to reach a new agreement. “One firm owns the building and the other wants to keep an advertising sign up on it. They have to make an agreement, and evidently, that didn’t happen,” he noted.

While the corner currently looks strangely bare, change is already in motion. The Department of Buildings has issued permits for the installation of two new LED signs as part of a broader modernization project, though it remains unclear what will be advertised. 

In a statement, Macy’s hinted at future branding efforts, stating that the outdated sign is being removed to modernize the space. They added that they will soon “announce refreshed and dynamic branding for Macy’s Herald Square that honors our heritage while reflecting the future of our flagship.”

Despite these modern plans, many New Yorkers are reminiscing on the building’s original beauty. Social media users have expressed sadness over the sign’s removal, with one Instagram user lamenting, 

“Smh everything’s changing man… it’s for the worst.” Another commented that the city is turning into “one giant open air prison mall.” The owners of the building previously refused to sell to Macy’s and NY residents remain hopeful that the structure will eventually be restored to its original beauty, before the advertisements.

One user said they love how older buildings looked from this time, and said it’s rare to see what they look like underneath remakes and ads. Another user said to ditch the LED lights and “restore that building back to its original beauty!”

As the neighborhood looks toward a modern future, the debate continues over whether to embrace LED upgrades or honor the historic architecture that once defined the city.