With reports Wednesday that Macy’s is considering a sale of its flagship location in Brooklyn, speculation begins about the fate of Fulton Mall’s largest and grandest building. According to Women’s Wear Daily, executives at the Cincinnati-based retail chain are said to be debating whether to renovate the venerable building at 422 Fulton Street or to sell the property and rebuild at a new location at 1-31 Hoyt Street, the current site of a Macy’s-owned parking garage. RELATED:This Interactive Map Shows Every Demolition In Brooklyn Since 2003 With the possibility of netting as much as $300 million dollars, this sale may proceed quickly, and it seems likely that whoever wins the bidding war will be tempted to raze the old building, whose origins date…