Macy's has pumped the brakes on a renovation project for its flagship Brooklyn store and is mulling whether to sell the property and redevelop the location, according to a report in Women's Wear Daily.
According to the trade publication, sources said the department store could pull in about $300 million by selling the location. Property values in the New York City borough have been boosted by a major transformation that's underway, which has seen more white-collar workers move into the area.
A Macy's spokeswoman told the publication the retailer is "studying ways to improve the Brooklyn store," but has no comment at this time.
To read the full article from Women's Wear Daily, click here.
—By CNBC staff.