That's all for the Subway here on the northwest corner of Fourth Avenue and 12th Street. The space had been on the market this past month. (The asking rent is $20,000 a month, per the listing.) Workers started gutting the interior yesterday.
This now marks the sixth Subway sandwich shop to close in the immediate area in the past three-plus years, joining the one on the Bowery … East 14th Street … First Avenue … Second Avenue… and Third Avenue.
Subway fans still have the locations at 250 E. Houston St., 223 Avenue B and 108 First Ave. to choose from, among several others close by.
I guess $5 foot long sandwiches don't pay Manhattan rents only artisanal foot longs do.
ReplyDeleteWhat is cause? Jared effect? Rents so high even Subway chain can't afford it? Nutritional concerns? Over-saturation in the market where too many franchises awarded in each district?
ReplyDeleteMmmmm - perhaps the food is too crappy even for this yob-saturated neighborhood? (Although I am sadly forced to admit that our new Domino's on 14th and A, right around the corner from small, local Muzzarella, is more often than not busy.)
ReplyDeleteThe franchise on Third Avenue between 15th and 16th remains open, but two previous iterations in that space closed in very short order (one seized by the state for alleged non-payment of taxes). It's an enormous space: think of how many sandwich sales it takes just to pay rent and franchise fees. Another at 20th Street closed sometime back, but its building is in the process of being razed to make way for new construction. Still, it's worth scrutinizing whether a business that must pay a franchise fee and Manhattan commercial rent can remain a going concern.
ReplyDeleteI hate Subway, but it's the rent, not the store. $20,000 a month on rent??? That's a huge expense.
ReplyDeleteThink of the Sandwich Artists! My dear God!
ReplyDeleteGot a hard crunchy 'meatball' there once.
ReplyDeleteThey said it was a meatball.
Not really sure.
Once the city squeezes out all the mom and pop building owners it will get real ugly.
ReplyDeleteSubway on 14th and B an eyesore that needs to be closed. Never anyone in there. No more chains on the alphabet avenues!
ReplyDeleteLow end chains you're next after the mom and pops have been eradicated, it's luxury artisanel going forward.
ReplyDeleteBring back BLIMPIE'S!
ReplyDeleteThe guys who manned the Blimpies on 4th Ave have a pseudo Blimpies in the back of the newsstand/bodega a few doors north. Check it out!
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