FAO Schwarz is closing its iconic toy store in midtown Manhattan as a result of rising rents, Bloomberg reports.

The store, known for its giant toy piano, is a major tourist destination made famous by the 1988 movie "Big" starring Tom Hanks.

The closure will leave the 153-year-old brand without a physical store.

Toys "R" Us, which owns the store, said it's seeking another location for the shop, according to Bloomberg.

FAO Scwarz-branded toys will still be sold by Toys "R" Us.

"The company is committed to the FAO Schwarz brand and growing its legacy," Toys "R" Us said in a statement to Bloomberg. "While we are sad to say goodbye to our current location, we are excited about the opportunity to create a new flagship location in New York City that will no doubt delight generations of children to come."

Here's the piano made famous by the movie "Big."

The store is known for its creative displays and life-size stuffed animals, like the ones in the image below.

Every year it attracts massive crowds of tourists around the holidays. 

Here are shoppers lining up outside the store in 1995.

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