Macy’s selling historic Pittsburgh building

The Fifth Avenue building opened as Kaufmann’s in 1887.

Philadelphia-based Core Realty bought the historic building and is planning to redevelop it. Financial terms were not disclosed. They expect to run the clearance sale until early September.

The company says laid off employees will be offered severance packages.

The announcement of the Pittsburgh closing came at the same time that Trump was urging followers via Twitter to boycott Macy’s. Kaufmann’s was acquired by The May Department Stores Company in 1946 which, in turn, was acquired by the predecessor of Macy’s, Inc.in 2005. The Macy’s downtown Pittsburgh building and annex measures around 1.2 million square feet. About 30 people who work in district offices in the building will be relocated to another store.

Macy’s started working with Core Realty previous year and recently chose to give up the whole building so the developer’s plans could evolve “into a more holistic project”, Kantor said.

The current version of the clock was installed at Fifth Avenue and Smithfield Street in 1913 and has been a popular meeting place, with generations of Pittsburgh residents telling each other, “Meet me under Kaufmann’s clock”.

The company said its workforce in the Greater Pittsburgh area will end up at about 2,450 associates.

He said, “Our decision to close downtown is not a reflection of the store’s management and staff, who have done a great job at serving the downtown customer”.

He said the city is working with Macy’s and the new developer to preserve the traditions that many associate with the Downtown store, from the Kaufmann’s clock to the Tic Toc diner.