yes, fao schwarz closed, and yes, toys "r" us closed. and just to give you a point of reference, that lease was $9 million annual rent, which seemed enormous back when we had made that deal, actually, 15 years ago. but today, that rent's $40 million, but the toy business has changed. you have all the toys being purchased not only online but at walmart, at kmart, at all the big box category-killers. and the price differential has made that very unattractive for the toy business. yet, we look at somebody like american doll, who remains on fifth avenue on the corner, a few blocks away, rockefeller center, and they're not going anywhere. >> all right, so, someone -- you maintain, then, that that space that is being exited by toys "r" us will be filled very quickly. >> well, it is filled. the lease is already signed. it's going to be a combination of the gap and old navy. and for the gap, this was a major decision, because once again, they're reinventing themselves, redesigning, re-emerging. you know, a lot of their customer base was taken aw

the store's closing follows july shuttering of new york toy store fao schwarz. >> this is my childhood, you know. this we used to ride the ferris while. reporter: toys "r" us decided to not renew its lease, the rent has doubled since the first lease signing in 2001, the bottom store was costing $2500 a square foot. >> at the end of the the day if someone else is prepared to pay more, unfortune lion icon ly, an icon like reporter: several tenants will occupy the space, so far the gap and old navy have signed leases, lidia curanaj, "fox 5 news." >> a brooklyn boy learned about dangers of hoverboards. hoverboard. he plugged it into an outlet overnight overly to watch it burst into flames, his parents put the fire out. fdny commissioner continues to warn the people about dangers of hoverboards. >> i would not plug one in, in my home. until this is fully investigate how safe or unsave they are, my advice is, be careful. classified as motor vehicles. steve: a tragic scene in wake field, new hampshire, they were hillary clinton. christina: a seal causes a wild scene on a california highway, t

toys "r" us also close that had iconic fao schwarz location on fifth avenue about five months ago.ys it's looking for new location for toys "r" us in manhattan, but hasn't found one yet. record high rental rates here in new york city are pushing out both small businesses and large retailers. crate and barrel closed its madison avenue location four years before the lease ended because the rent is just too darn high. however the board of realtor says not every area is seeing higher rents. average asking rent for ground floor is up 3%, but that is low compared to a 42% increase in the flat iron district. times square did remain the second highest in manhattan at $2390 per square foot per month. plus, in new york city, labor cost is higher getting inventory in and storing it is more challenging. okay paps city costs are be up to 40% of sales. that's about four times the rate for an average mall. but many retailers do justify the costs in part as marketing expenses. a partner at retail consultant says new york city is hard to beat when it comes to touching so many consumers especially f

. >> seth: you have -- there is a great scene where you go to fao schwarz. >> yeah. >> seth: piano keyboard, famous scene from "big." >> yes. >> we do, yeah. >> seth: which is fantastic. >> it's great. i love kanye west. >> seth: i love kanye west, as well. >> he's the best. >> seth: you might have -- >> we don't love him as much as kanye west loves kanye west. [ laughter ] >> seth: we'll never get there. we'll never get there. >> but i love him. >> seth: i appreciate -- yeah. i'm a big fan. i'm glad -- you have, though, a kanye west story that i can't tell if i'm stupid jealous of or not jealous at all, which is you -- he rapped his album to you. >> he did. so i made a video mocking him horribly with my friend, james franco. >> seth: to the "bound" video. >> to the "bound" video. and i do this a lot, where i like do really mean things to other celebrities, never thinking i'm going to see them one day. >> seth: right. >> -- and have to deal with it. [ laughter ] i literally said horrible things about justin bieber for years, and all of a sudden i'm face-to-face with him on a talk show. and