Photo: Shanna Ravindra
It’s good news that, according to two separate articles in the Times, landlords are giving retailers breaks on rent even as operating costs remain high and certain restaurants continue to be pushed out of Manhattan — or are at risk of closing altogether. (Cendrillon is moving to Brooklyn and will become Purple Yam; Chris Cannon, the owner of Alto and Convivio, “predicts that 10 to 15 percent of New York’s high-profile restaurants will close in the coming months.”) But don’t get excited about word that “the Holland reopened last week.” Yes, that was the hope, but per a drive-by last night, the shutter is still down.
Recession Has Landlords of Retail Tenants Extending Discounts of Their Own [NYT]
