The sale started Monday and runs until Friday. I went yesterday and wasn't superly impressed with the selection, but there were definitely cute items to be had.
dresses are $150 sweaters -- $100 tops -- $90 samples -- $50 ballet flats -- $70 -- I recommend going to the Hollywould sale later this week for ballet flats
Usually the prices get cut as the sale progresses 260 Fifth Avenue (bet. 28/29)