Iconic Herald Square Billboard Removed, Exposing Historic 'Million Dollar Corner'

A familiar sight in Herald Square has vanished. Over the weekend, the massive red-and-white shopping bag billboard that adorned the corner of 34th Street and Broadway for roughly 60 years was dismantled. The removal, authorized by a Department of Buildings permit issued in mid-June, has exposed the facade of a five-story building that had been hidden from public view for generations.

This structure, located at 1313 Broadway, is a significant piece of local real estate history. In the early 1900s, as Macy’s sought to consolidate land for its flagship store, it attempted to acquire the corner plot. However, the company was outmaneuvered by rival department store owner Henry Siegel, who purchased the site to block the expansion. The building later earned the moniker "Million Dollar Corner" after a record-breaking sale in 1911.

While Macy’s eventually constructed its "mammoth store" around the property, the corner building remained a distinct entity. According to historical accounts, the facade has been utilized for billboard advertising since the 1920s.

The future of the newly exposed exterior remains uncertain. Kaufman Realty, which owns the building and the advertising space, has been in discussions with Macy’s regarding the site's modernization. Macy’s representatives stated that the previous signage was considered outdated as the neighborhood evolves, though they have not disclosed what, if anything, will replace the iconic display.

The relationship between the two parties has been marked by legal friction. In 2021, Macy’s initiated a lawsuit against Kaufman Realty, citing 1963 contractual terms that allegedly prohibited the owner from allowing competing retailers to advertise on the corner. The shopping bag sign remained in place throughout the duration of that dispute.

For now, the 240,000 pedestrians who traverse this busy intersection daily are getting a rare look at the historic architecture that once stood as a defiant holdout against the city's largest department store.