Monday, August 25, 2025

Farewell to the East Village Rite Aid

Photos and reporting by Stacie Joy 

The Rite Aid on First Avenue and Fifth Street is now closed. 

The store has been in going-out-of-business mode for the past five weeks. On Friday, we paid a visit to see the most random items left for sale at up to 95% off before the final day yesterday...
Spotted: A very, very, very good price on Opill birth control pills. Nearby, a trifecta of odd shelf neighbors — a cannabis surface detection kit (for vapes, edibles and samples!), laxative suppositories, and a Clearblue Easy "menopause journey" pee-stick kit. 

Also in the mix: Enfamil, diabetes test strips, colic relief formula — plus a bonus pack of electrode TENS pads. Win!
As previously reported, Rite Aid filed for bankruptcy (again) in May, citing years of financial struggles and a rapidly changing retail pharmacy market. 

The EV Rite Aid was reportedly leasing the space for upwards of $50,000 per month. 

Here's more on the single-level building's ownership: 
The 1920s-era East Village building has been owned by the New Tandem Equities since 2007, city property records reveal, when it was sold to them for $4.2 million by an LLC under developer Anthony Marano's control. Marano, in turn, had bought the building from grocery store mogul (Gristedes and D'Agostino's) and radio station owner (WABC 770 AM) John Catsimatidis in 2005. 
Again, the auction is for the lease, not the property. The EV lease is set to expire in January 2032. 

No word on a new tenant yet.
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3 comments:

  1. CPBAugust 25, 2025 at 7:59 AM

    Please make this another pharmacy for the East Village perhaps a CVS?

    ReplyDelete
  2. billAugust 25, 2025 at 8:41 AM

    $50k a month?

    ReplyDelete
  3. Scuba DivaAugust 25, 2025 at 9:26 AM

    I am so sad about this; I don't want to shop at Duane Reade or CVS and went out of my way to patronize this Rite-Aid.

    Of course I've noticed Rite-Aid [based in Harrisburg, PA] losing its grip on this neighborhood and others, however.

    ReplyDelete

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