When commercial spaces come on the market, I don’t always pass along the info, because there are times when the current business may, in fact, not be going anywhere—the landlord could be changing, but the tenant might stay on. Or the landlord could be hoping for a better deal, and in the absence of one, the tenant goes nowhere for a long time. (I mentioned it for the New York Sports Club on Reade because I thought you might want to know if you were signing up for an annual membership.)
I’m mentioning it for Pearl Paint because the store is a downtown icon, and from the sound of the listing, Pearl isn’t likely to survive a transition. The entire six-level, 11,850-square-foot space is listed on Massey Knakal’s website for sale or rent—or teardown: “The building delivers over 2,000 SF of air rights. Due to the sizable floor plates, phenomenal location for retail (Canal) and residential (Lispenard), the building offers a great opportunity for a developer, investor and/or user. The space can be delivered vacant.” It’d be a shame to lose the buildings—underneath the garish paint job, they’re probably attractive.
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