After I shared the news that Peter McManus Cafe might soon be closing, fourth-generation owner Justin McManus reports that negotiations with the new owners are progressing.
"We are close to a year extension," he told me, adding that the lease will hopefully be signed after the holidays.
One year, of course, is only a short-term solution. The Renatus Group, the building's new owners and a real estate development company, have had plans to redevelop and possibly demolish the building.
Neighbors have told me that only two holdout rent-regulated tenants remain upstairs. As we've seen before, it's often the holdouts who keep old buildings standing--and their ground-floor commercial tenants in place.
We'll watch this one carefully over the next year. The city can't afford to lose Peter McManus.