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4TH STREET FOOD COOP - The Local East Village Blog - NYTimes.com


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4TH STREET FOOD COOP

With Rent Hikes Looming, Cooper Square Tenants Worry They’ll Be Kicked While Down


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cooper squareSarah Darville Postal and other businesses on East Fourth.

Store owners already struggling to get by are worried about a significant rent increase planned by their landlord, the Cooper Square Mutual Housing Association.

The Local spoke to about a half dozen shopkeepers on Third and Fourth Streets, between Bowery and Second Avenue, who said they were grappling with a sluggish economy as well as challenges unique to their blocks. Some worried they would follow in the footsteps of La Sirena, which earlier this week announced that it would be closing, should they too face rent hikes of what is expected to be around 30 percent.

At Postal, a packing and shipping store on Fourth Street, owner Gary Patick said he alternates between busy days and days when “nothing happens,” and doubted he’d have any room to negotiate when his lease expires in two years. He described his profits, which in 2010 and 2011 were their lowest in a decade, as “a real roller coaster” and said that one-third of them go toward rent payments.  Read more…