Report: Amazon Buying Lord & Taylor Manhattan Flagship

According to the New York Post, Amazon will pay $1.15 billion to acquire the former Lord & Taylor flagship in Midtown Manhattan.

The Fifth Avenue landmark building will become Amazon’s New York City headquarters. The building, at 11 stories and 660,000 square feet, will house several thousand employees in the coming years, the Post reported.

WeWork was supposed to occupy the building but a deal dissolved when the company’s bid to go public fell apart. Amazon’s initiatives to open a headquarters in Queens derailed amid quarreling among politicians and between community and other organizations about its value and contributions to the community.