Please note: this business is now closed; nycgo.com keeps record of many old and closed venues. Children will be wide-eyed walking into FAO Schwarz. The oldest toy store in America. has been bringing specialty toys to kids since 1862, and continues to provide quality items from around the world. Located around the corner from Central Park, at Fifth Avenue and 58th Street, the New York flagship store is not just a place for shopping, but also a place for fun. Enjoy a favorite New York pastime: dancing on the store’s supersize piano, just like Tom Hanks in the movie Big.