Massey Knakal just announced what will take the place of the recently shuttered, rent-hiked Shakespeare & Co. Bookstore on Broadway: "The space will be occupied by Foot Locker."
Another national chain. Another suburban mall store. Another piece of Anywhere & Nowhere, USA.
And here's what agent Brendan Gotch, who "exclusively represented the landlord in this transaction," had to say about it:
“I remember buying my textbooks at Shakespeare & Co. as an NYU student, and while both the landlord and I are sad to see them go, the realities of today’s market combined with the effect of online retailing made it undesirable for them to continue their business. Foot Locker is an ideal solution for the landlord and provides a product that is hotly in demand in this market, especially by NYU students."
Blame "online retailing" when the landlord nearly doubled the bookstore's rent, according to the Observer, to $50,000 per month. Nothing but a national chain can pay that kind of rent. Period.
Once again, our local, independent businesses need protections. Our city needs to control the rampant spread of national chains. Every day this doesn't happen is another day too late to save the city's soul.
Shakespeare & Co. Closed
Shakespeare & Co. Closing
...and Hipsters & Tourists