F.A.O. Schwarz, Toy Store in 'Big,' to Close Its Fifth Avenue Location

Big Tom Hanks Still - H 2014
20th Century Fox/Courtesy of Everett Collection

Big Tom Hanks Still - H 2014

Tom Hanks played the piano floor keys inside the toystore in the 1988 film.

F.A.O. Schwarz, the toy store featured in the 1988 film Big starring Tom Hanks, will close its Fifth Avenue store July 15, The New York Times reported.

The toy store, which has been a staple in New York City for 145 years and was opened in 1870, is searching Manhattan for a new location to reopen its doors at a more affordable price, according to The NY Times.

Until a new location opens, customers will have to rely on online shopping or the toy store's boutiques in Toys "R" Us, which owns F.A.O. Schwarz. "The company is committed to the F.A.O. Schwarz brand and growing its legacy," a Toys "R" Us representative said in a statement on Friday.

The longstanding brand at one time had 40 stores nationwide, but the 5th Avenue landmark, in the General Motors Building, is the last remaining location.

The toy store moved multiple times throughout New York City before settling in its current home in 1986 between 58th and 59th Streets.