Seems as if all the Marc Jacobs sales have caused some confusion. The BIG sale is actually at the Mercer street location in the village. The discount is 90% off and the line to get in is as bad as you would expect.
Read this before heading out:
i was outside mercer at 11am. the line is massive, it's all the way down mercer, and around the block, wrapping around the mercer hotel. it's moving 10 feet every 15 minutes and there are just so many people waiting, it must be at least 1 1/2 hours' wait for people who got to the line at 11am prompt. people were leaving the sale with lots of huge, stuffed shopping bags though!
Those who braved the cold were able to score some incredible deals. One woman picked up two bowler style bags, which were $150 each from $1295. Seems like someone who is a bit entrepreneurial and warm blooded could make a killing just waiting in line for shoppers.