Bloomingdale's 59th Street flagship (literally!) is a New York City landmark. Photo: Getty Images

While empty storefronts across Manhattan's most popular shopping avenues are hanging "For Sale" signs in their windows, shopping emporium Bloomingdale's is actually expanding.

Over the next two months, the 59th Street landmark department store is rebuilding its flagship's entire 60,000-square-foot main floor -- which includes beauty, fragrance, designer handbags, jewelry, men's shirts and ties, sunglasses and watches -- in a project they're calling "the biggest makeover in NYC," reports WWD.

Sources tell the fashion paper that the renovation is costing the retailer between $45 million and $55 million (including contributions from vendors), and vendors are hoping for a 10 to 20 percent boost in sales after the project is complete.

Michael Gould, Bloomingdale's chairman and CEO, told WWD: "It's a game-changer. When you see all of the new installations, it will blow your socks off. Every solitary resource has a new shop. It's like a brand-new store."

The new layout will officially launch October 15 and will include wider aisles and high glossy walls that will allow each brand to personalize its space.

Some of those brands include ones that are completely new to Bloomies like Bare Escentuals, Shu Uemura, Bumble and bumble and Giorgio Armani in beauty, and Stella McCartney, Me&Ro, Helen Ficalora and Elizabeth and James in accessories, among many, many others.

There will even be a 1,300-square-foot "cosmetic studio" which will host "master classes" in makeup application.

So, are you ready to shop again, yet?