Read moreThe terminal market is the third-largest in New York City and is the most popular retail destination in the borough.
Its owner, Tony Sperling, told Fox News that he has had to cut the number of stores and is looking to sell them as soon as possible.
Sperling said he will also be selling the remaining 30 or so outlets, which include some of the most expensive brands in the country.
Spencer Stutz, the executive director of the New York Association of Zoos and Aquariums, said in a statement that “many zoo owners are very concerned that the US Government will continue to require the sale of their zoo stock to the Federal Reserve.”
“This would result in a significant reduction in zoo revenues and the loss of tax revenue,” Stutz said.
“The public has a right to know what’s going on with their tax dollars and that is exactly what this investigation is all about.”
Sperly said he expects to file a federal lawsuit against the US Treasury Department, the Environmental Protection Agency, and the Securities and Exchange Commission over the regulations.