Year: 2009

From the NY Times:

The latest record store to close in New York is a big one: the Virgin Megastore in Union Square. Following its announcement last month that the Times Square Megastore would close down in April, Virgin Entertainment Group North America will shut down the Union Square shop in late May or early June, a spokeswoman said, confirming a report in Billboard. Virgin will also close its Market Street store in San Francisco in April. The New York closures will leave Manhattan without a large-scale record store. Thousands of music retailers have shut down in recent years as CD sales have plunged, and Virgin has been closing most of its locations around the country since it was bought by the real estate companies Vornado and Related in 2007, but its high-traffic New York stores were said to be profitable.

The latest gossip from The Villager:

While the fate of two prime-time storefronts on the south side of Union Square has yet to be determined, recent whispers have indicated that more big-box stores could be headed for the space currently occupied by a pair of retail behemoths.

Electronics retailer Circuit City, which filed for bankruptcy late last year, will shutter its location on 14th St. at Fourth Ave. at the end of next month as part of plan to auction off all its properties and leases nationwide.

A sales associate at the store said that Walmart was interested in the space, which is owned by developer The Related Companies, although a New York-based spokesperson for Walmart said the big-box chain currently has no announced projects in the city.

Best Buy, which has a store less than a mile away on W. 23rd St., is another name that has been floated as a future tenant. A company spokesperson said the electronics-and-entertainment retailer does not currently have any plans for the site and could not speculate on potential deals.

Rumors have also swirled for months over the possible departure of the adjacent Virgin Megastore, where Related — which owns a controlling interest of the Virgin stores — is also the landlord.

“We’ve made no decision about that property,” Related spokesperson Joanna Rose told Mixed Use, echoing her statements to this paper from last May regarding Virgin’s long-speculated exit. However, Rose did confirm that brokerage Winick Realty Group continues to handle the leasing assignment for the nearly 60,000-square-foot property.

A spokesperson for the Union Square Partnership did not have any information on who could open in either space, where brokers have pegged asking prices for the marquee addresses at upward of $300 to $350 per square foot.

They’ve been under construction for ages, but it looks like the condos at 82 University Place, where the beloved Cedar Tavern used to be, are finally ready to be sold. Starting around 1.5 million.

After more than 15 years, the very first location of Crunch Fitness is closing on March 16. All members will be directed either to the new and much larger branch at 4th Ave. and 12th St. or the Lafayette St. branch.

The New York Times has the details on copper thieves who are systematically stripping the facade of the old Zen Palate on Union Sq. West, which has been vacant for over a year. Is this the beginning of the end?

Shanghai Square on 13th St. is now open for breakfast, serving traditional Chinese fare such as dim sum, Shanghai soup dumplings, and scallion pancakes. Is this innovative marketing or desperation? Is this bagel-and-croissant neighborhood ready for something so exotic at 8 in the morning?

Why is 4th Ave,. so short? Why is the Strand on 12th St.? When was the Post Office built. To take a great visual tour of the history of 4th Avenue, click here.

UPDATE: JAN 14: Trader John’s has covered up their sign. Apparently the idea didn’t fly past the lawyers.

Jan. 9 (Bloomberg) — Trader Joe’s Co., the operator of specialty grocery stores, sued Gristede’s Foods Inc., alleging the supermarket chain committed trademark infringement by opening a food market in New York called Trader John’s.

Gristede’s is opening the Trader John’s “knock-off food market” three blocks from a Trader Joe’s store in Manhattan, according to a complaint filed Jan. 8 in federal court in New York. The Trader John’s name misleads consumers and diminishes the Trader Joe’s brand, according to the complaint.

“We take seriously any attempt to infringe on our trademark and we are taking the necessary action to stop this particular attempt,” Trader Joe’s spokeswoman Alison Mochizuki said in an e-mailed message.

The lawsuit has no merit, said John Catsimatidis, Gristede’s chief executive officer.

“My name is John and I am a trader so I don’t know what their problem is,” he said in a telephone interview. Gristede’s lawyers haven’t seen the complaint yet, Catsimatidis said. “We’ll see what happens.”

The Trader John’s store at 5 West 14th St. in Manhattan will open Jan. 15, Catsimatidis said.

The Trader Joe’s store is three blocks away at 142 East 14th St. The company has 300 locations in 25 states and Washington. Gristede’s has about 35 shops in the New York area, Catsimatidis said.

Trader Joe’s sent a “cease and desist” letter Jan. 6 to Gristede’s, asking it to “immediately change the name and decor of the infringing store,” according to the company’s complaint.

Read this excellent post at Jeremiah’s Vanishing New York to learn the complete history of the doomed building at 61Fifth Ave. on the corner of 13th.

Curbed reports: The curvy low-rise building at 61 Fifth Avenue, devastated by fire in 2006, has been marked for death ever since the structure—a former Scrafft’s luncheonette (see photo at top left circa 1940)—was sold to a developer in early 2008. An architect was quickly enlisted to draw up plans for a 10-story building with apartments and ground-floor retail, and it was made clear that the current 61 Fifth Avenue was too far gone to be preserved in any manner. Has the economy put a pause on those plans? Perhaps, but broker-blogger Andrew Fine reports that demolition permit was issued for the property in December, so the wrecking ball could come calling any day now.