Japanese retailer Takashimaya plans to close its New York flagship this June, according to Crainsnewyork.com.

Located at 693 Fifth Ave., between East 54th and East 55th streets, the store has been at the building, which the company owns and plans to sell, since 1993.

The multi-level store has shopping in categories including women’s and men’s clothing, jewelry, home decor and gifts and also has a floral boutique and spa.

A Takashimaya company spokeswoman mentioned that six additional stores in Japan have been closed.

Like many Japanese retailers, the company has struggled with declining sales.

The announcement left many wondering about the upcoming retail vacancy on that stretch of Fifth Avenue, an upscale strip where rents are the most expensive in the world, ranging from $1,800 a square foot to $2,500 a square foot.