By now you've heard the news, first released yesterday here and since spread like wildfire, that Colony Records must close its long-standing Times Square home in the next month or so. Today, the Post followed up on the story and reported that the reason for the closure is not just because we all have iPods, it's because Colony's landlord is quintupling the rent to $5 million. Per MONTH.
With a hike like that this is, essentially, an eviction. What landlord is doing this to a New York Institution?
The Brill Building was sold in 2007 to Stonehenge Properties for $151 million. Here's the rendering they present of the future Brill at 1619 Broadway--and Colony's space--on their website today:
"Generation," a fantasy big-box flagship store features the usual glass and glitz, the skinny girls in bathing suits, with the giant handbags and glowering faces, the horror of contemporary life in New York City. And here's how they're marketing it:
"Amazing opportunity for a brand to control a high-trafficked corner location"--can accommodate "big box"--in the spot where a family-run business thrived for 6 decades and contributed so much to America's cultural history.
It happens that Stonehenge is the same group that evicted every long-term, mom-and-pop tenant in their building on 9th Avenue between 17th and 18th. I've been writing about those people for years.
This is how Stonehenge advertises their 9th Avenue building today--with a banner announcing it as a gateway to the High Line, and "New Era. New York."
I feel fucking sick.