Tuesday, December 15, 2015

Pearl River Mart

This past spring, Crain's reported that Pearl River Mart, the excellent Asian emporium, would be forced to close at the end of the year due to an insane rent hike.

Now reader Andrea R. writes in with a final (ish) date. A friend who works in the store told her: "the closing date is around February 10."



Pearl River first opened in Chinatown in 1971. It has since moved twice, but this may be the end of it, due to sky-high rents all over the city. As Crain's reported, "Pearl River currently pays more than $100,000 a month for its shop, and rent would rise more than five times when the lease expires."

That's over $500,000 per month.

And this is why we need to #SaveNYC.


10 comments:

Donnie Moder said...

I appreciate you keeping up the good fight but maybe we all should have given up when Canal Street Jeans closed (or perhaps opened?). Definitely should have waved the white flag when the Canal Street/Broadway location of Pearl River closed.

Goggla said...

Insane. Pearl River has been one of my staples for gifts, dishes, lighting, and just about everything else. Shopping there is so much fun, there's just no place like it. What a shame.

Scout said...

I'm with Donnie - it all died for me when Canal Jeans stopped selling vintage, then when they moved out of their big store, it put the final nail in the coffin. Pearl River was a never-was, as far as I'm concerned.

Long live the late 70s-early 80s!

Richard Federico said...

Yes, as Donnie and Scout said I also feel Canal Jeans had a vibe, but for me the nail in the coffin was when Industrial Plastics packed it in. Anyway, There is already McDonald's and now a Burger King down a ways from Pearl River, but what China town could really use is a Panda Express! Now that's a chain that could almost blend in! If the landlord is looking to court a high end establishment, perhaps a PF Chang's would add a touch of class for the gentrified masses that don't cook and who cringe at the sight of the lively fish markets that spill onto the sidewalks.

So many ways we can inject more banal mediocrity into one of the last great cultural meccas of this city. Come on!... I'm sure we can all think of something with a globally recognizable brand name that deserves a spot in this location!

Bill said...

The real estate taxes for this building in the current fiscal year are $586,196. That's roughly 6 months of rent each year (for the last few years) generated by the 30,000 square feet occupied by Pearl River on the ground, second and basement levels.

Donnie Moder said...

Pearl River was great at Canal and Broadway because it was affordable for me. And it was among other bargain shops. They were Target before Target was in NYC. At the current location, it seemed in my mind they went went a few steps upscale, but it still was a unique and wonderful place. Some would say it was an improvement. I went there a few times but found I did not buy.

Allanya Reape said...

Such sad news. Wow I used to spend hours in Pearl River. I agree with Donnie about Canal Jeans too. Another favorite shop of mine especially during high school and college. Those were the days. Broadway and Canal Street are so commercialized now. Breaks my heart.

laura rubin said...

broadway going north from canal has been megastore chain for years. pearl river was wonderful. you can go further south east for the same products.

Michael Rubin said...

@Bill

So they could have doubled the rent instead of quintupling it.

Robogomo said...

It's sad that Pearl River Mart is closing--really enjoyed that place. It will be joining other stores I miss...like Industrial Plastics and Pearl Paint :(