The iconic red-bag-shaped Macy’s billboard on the corner of 34th Street and Broadway came down over the weekend, exposing the old “holdout” building beneath. “And so the Macy's holdout is one of the most iconic and notable examples of this phenomenon in New York City.” Defeated, Siegel sold the building, according to “Holdouts!” You see the Macy's building, and you see the red bag, just like their Christmas windows — it's a staple,” she said of the now-removed signage. Isabella Sapio, 25, said she used to see the sign almost every day when she worked at Macy’s a few years ago.