June 29, 2009

Greedy Landlords - Bye Jarnac & Payard

Sad to see that in this economic environment, landlords are getting so greedy!

The recent closing of West Village classic Jarnac and Upper East Side dessert haven Payard highlights the wide chasm between landlords and their tenants...

There have been many well documented rent wars - remember what happened to the historic 2nd Ave. Deli? Now located in gasp! Midtown.

Raising the rent 50% in this market seems a bit aggressive, no? I hope the locations stay vacant for a long time...

While both Jarnac and Payard will most likely open in new locations - it's often never the same...remember when The Tasting Room moved from the east village to soho? It marked the beginning of the end...

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