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Union Square Cafe To Leave East 16th Street

August 11, 2014

New York’s every escalating rents has claimed another victim. Danny Meyer’s Union Square Cafe, located at 21 East 16th Street announced that once the lease terminates at the end of next year the restaurant will relocate to a yet undetermined location. According to the New York Times, Mr. Meyer and the landlord Ari Ellis of David Ellis RE could not come to turns for the economics of the restaurant to work. Union Square Cafe has occupied that space for thirty years.

Landlords sometimes perceive that their property is worth more than they can realistically rent it for. A story comes to mind from my hair cutter. He moved his business seven years ago because he and his partner could not come to terms with their landlord. The landlord told him that he would have the place rented in a week. That space is still vacant.

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From → New York City

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