While we don't yet know what will ultimately become of the FAO Schwarz retail space in the GM Building after the iconic toy store moves out on July 15th, we now know that the next immediate tenant will be the Apple Store which is reportedly taking over the place while its main flagship store underneath the plaza in front of the building undergoes an extensive renovation. The news was disclosed by Apple retail chief, senior vice president Angela Ahrendts to the Associated Press in an interview promoting the company's newest outlet set to open tomorrow on Madison Avenue. Though that new store will contain the company's signature minimalist wooden tables and fixtures, the building around it is reported to be a meticulous restoration of the former U.S. Mortgage & Trust building which will include chandeliers re-produced from vintage photographs and the original vault converted into a private shopping area —fitting for the store located in the neighborhood most conducive for selling the pricey golden AppleWatch Edition.
But back to Fifth Avenue. The famous store with the "cube" is included among the roughly 20 U.S. Apple Stores set for major renovation as they have outgrown their spaces since the introduction of the iPhone and other new products that have transformed the company's offerings. Exactly when the Fifth Avenue store's renovation will begin or how long it will take is unclear, though it is likely to start as soon as the FAO Schwarz space can be converted to Apple's temporary requirements. When that happens, the GM Building's Fifth Avenue retail spaces will be entirely devoted to temporary stores with Cartier on the northern corner, waiting for its own flagship a few blocks downtown to finish its extensive revamp, and Apple on the southern side. While the famous "cube" entrance is expected to remain, it sounds like the rest of the store will be dramatically updated. Whether or not the temporary store will maintain the flagship's 24-hour schedule is also unknown at the moment, but Apple is uniquely fortunate to be able to take over a large high profile location only steps away so it can continue doing business at it's highest volume retail outlet without any interruption.