There's a fundraiser (online and in the store) set for Dec. 5 that will feature signed first editions donated by a variety of authors, including Ann Carson, Lydia Davis and Paul Auster.
Per Publishers Weekly:
But that is only one piece of the store’s fundraising plans so that it can stay in the East Village in a space near Avenue A and Third Street. The president of Cooper Union has offered to help the bookstore by letting it use the school’s Great Hall for a fundraiser and to contact some of the schools’s donors on the store’s behalf. Those details are still being worked out.
Cooper Union will reportedly allow the store to leave its current home on Third Avenue with four years left on the lease.
Back to Publishers Weekly:
The new location would be about half of the store’s current size, or 1,300 sq. ft. Co-owner Bob Contant regards the store's downsizing as a good thing. “The print book business isn’t as robust as it used to be,” he points out. “Where we sold 25 books, now we sell five.”
As for the new new location "near Avenue A and Third Street" … let the speculation begin!