On the bright side

at least the space will not be taken over by another WaMu or Wachovia.


Monica said...

O.K. My eyes aren't all the way open yet and we know I'm famous for skimming. But how come no discussion of predatory commercial rents in the story of a New York institution falling on tough times?

Having married a bar manager and having some insight into what storefronts cost a month in Lower Manhattan because I would end up doing QuickBooks for him, if you didn't sign a long-term lease (we're talking 10 years) or your lease has come up for renewal in the past five or six years, you've been totally reamed.

Look at all the restaurants that have gone out of business on the Upper West Side.

I can't honest believe that these folks were a victim of an oversized payroll. There's more to it than that.

Maybe Whole Foods (whole paycheck!) is to blame. It could also be that some of the Jeff Market's older customers have left Manhattan for sunnier climes.

Also, as you pointed out in an older post, maybe they weren't paying enough attention to cleanliness and presentation.

Gastropoda said...

Those are excellent points, but then the Metro section barely seems to be edited anymore (if you could figure out the first story on the MTA and its Google application, you are a far smarter reader than I). Funny that rents would not come up. And I wonder about the finger-pointing at Holy Foods, given that Garden of Eden just a block and a half away seems to be doing so well these days (seems to be -- at least it is well-stocked). Citarella never seems crowded, so it can't be totally to blame. All fodder for Gastropoda.

Thanks for weighing in.