--- description: PSA, millennials: today is your last day to dance on the giant 5th avenue piano. title: FAO Schwarz To Close Its Doors Tonight image: https://static.time.com/v3/assets/bltea6093859af6183b/blt62f2a9e88b79102c/69885ae735ba6f03c3c0e2fd/fao-schwarz-closing.jpeg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Retail](/tag/retail/) ## Retail Update your preferences in [Account Settings](/account/preferences/) Close # FAO Schwarz to Close Its Doors Tonight by [Katy Osborn](/author/katy-osborn/) ## Katy Osborn Update your preferences in [Account Settings](/account/preferences/) Close Jul 15, 2015 1:57 PM CUT  Children play on the "Big Piano," made famous by the movie Big, in FAO Schwarz toy store on July 14, 2015 in New York City. Children play on the "Big Piano," made famous by the movie Big, in FAO Schwarz toy store on July 14, 2015 in New York City.Andrew Burton—Getty Images by [Katy Osborn](/author/katy-osborn/) ## Katy Osborn Update your preferences in [Account Settings](/account/preferences/) Close Jul 15, 2015 1:57 PM CUT Wednesday is your [last](http://www.telegraph.co.uk/news/worldnews/northamerica/usa/11739199/FAO-Schwarz-shuts-down-after-145-years-in-Manhattan.html "undefined") day to dance on the giant piano from _Big._ FAO Schwarz, the 45,000-square-foot dreamland famous for its collection of toys—including the Manhattan floor piano where Tom Hanks danced out “Chopsticks” in the 1988 film_—_will close its doors today due to rising rents and heightened online competition, the _Telegraph_ reports. The store, which first opened in New York in 1870, has been at its current 5th Avenue and 58th street location for nearly three decades, and will be replaced by none other than Apple. FAO Schwarz announced the closing back in [May](http://time.com/3881634/toy-store-fao-schwarz-closing/ "undefined"), to the disappointment of [toy lovers](http://www.nytimes.com/2015/05/28/nyregion/goodbye-fao-schwarz-toy-lovers-prepare-for-stores-closing.html?%5Fr=0 "undefined") who grew up with the iconic retailer. A spokesman from the toy emporium’s parent company, Toys”R”Us, told the _Telegraph_ it was “actively searching” for new space. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3958494/fao-schwarz-close/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3958494/fao-schwarz-close/"},"headline":"FAO Schwarz to Close Its Doors Tonight","datePublished":"2015-07-15T13:57:56.000Z","dateModified":"2026-02-22T09:15:52.933Z","description":"The store is still looking for space elsewhere","url":"https://time.com/3958494/fao-schwarz-close/","keywords":["Retail"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt62f2a9e88b79102c/69885ae735ba6f03c3c0e2fd/fao-schwarz-closing.jpeg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Katy Osborn","jobTitle":null,"url":"https://time.com/author/katy-osborn/"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt62f2a9e88b79102c/69885ae735ba6f03c3c0e2fd/fao-schwarz-closing.jpeg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"FAO-Schwarz-Closoing","caption":"FAO-Schwarz-Closing","creditText":"Andrew Burton—Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/retail/","name":"Retail"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/3958494/fao-schwarz-close/","name":"FAO Schwarz to Close Its Doors Tonight"}}]}] ```