Jamie Larson Owner of St. Mark’s Bookshop Terrence McCoy, along with Borough President Scott Stringer, Cooper Union President Jamshed Bharucha and others.

Cooper Union has eased the St. Mark’s Bookshop financial burden — somewhat.

A day after students from the school protested the possibility that they would have to pay tuition for the first time in more than a century (we’ve now added video of that demonstration to our initial post), politicians, community activists, school officials and the bookshop’s owners officially brought the two-month rent dispute to an end at a press conference this morning.

Under the agreement for the next year, Cooper Union will, as reported by The Times last night, cut the bookshop’s rent by $2,500 from its current rate, $20,000 a month.

Cooper Union will also forgive $7,500 of the shop’s debt and send a team of students to work with the owners on creating a new business plan. The agreement, which only last week seemed dead in the water, should save the store $40,000 over the next year, according to Manhattan Borough President Scott Stringer, who took credit for bringing an end to the standoff.
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