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Lord & Taylor known for its stunning holiday displays along Fifth Avenue in New York City will be settling into a smaller space.
The retailer has been at the site for nearly 100-years and will now be converting the building to WeWork headquarters with less than a quarter of the space remaining for the store.
WeWork attracts millennials who are looking to share office space, and will be paying for $850 million for the building.
Lord and Taylor's parent company Hudson's Bay has been looking to sell real estate to pay down debt. And will keep the whole building with its usual operations through next year's holiday season.
Hilarie Barsky, FOX News.
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