St. Mark’s Bookshop Strikes Deal With Cooper Union

IMG_0008Khristopher J. Brooks

It looks like the saga of the St. Mark’s Bookshop may have come to an end. Earlier tonight, the Manhattan borough president, Scott M. Stringer, stopped by a meeting of Community Board 3’s Economic Development committee to tell members of the board to expect an announcement about the bookstore tomorrow at 11 a.m. When Richard Ropiak, co-chair of the committee, asked Mr. Stringer if they should bring picket signs or champagne to the announcement, he replied, jokingly, “Bring both.”

Now the cat is out of the bag. The Times reports that at a meeting with Mr. Stringer, Cooper Union agreed to reduce the Bookshop’s rent, though not by $5,000 per month as the store had hoped: “At a meeting in Mr. Stringer’s office, the college agreed to reduce the store’s rent to about $17,500 a month from about $20,000 for one year, and to forgive $7,000 in debt. The school will also provide student help with revising the store’s business plan.” The school’s president, Jamshed Bharucha, tells The Times, “The relief that we’re providing is so that the bookstore can come up with a viable and sustainable business plan not dependent on further subsidies.”

We’ll have more on this tomorrow.