Monday, October 01, 2007

The Wild World of NYC retail real estate

Well, it's official. The Barnes & Noble in Chelsea is indeed closing next year. For once, the Post was correct. It's pretty sickening too. That store opened almost 15 years ago before there was really anything at all on that stretch of 6th Avenue. Now that the area has grown and exploded into a mega-retail store destination, the landlord has asked for a 500% increase in rent. 500%!! Say what you will about corporate giants like B & N and Borders, but at this point they are not the behemoths they once were, despite their seeming ubiquity. They are no longer each others' competition in the way they once were. They are both competing against Amazon and the online world in general. I love shopping online, but I do still love book shopping in a store. I just love being surrounded by books I think.

well, boo to this. I know we will all have jobs waiting for us when they absorb us into other stores, but still. I like my store. It's a beautiful, soaring space where I never feel claustrophobic and the customers are generally wonderful. boo.