Interesting new business opens on the Bowery and Houston

Over the weekend, the plywood came down on the SW corner of the Bowery and Houston to reveal the new business — Bank of America! 

This is the first tenant here in almost seven years ... the last at 284 Bowery was Cherche Midi, Keith McNally's French brasserie, which closed in June 2018. (Before this, McNally had unleased Pulino's Bar and Pizzeria.) 

This corner had also been a hot spot for street art these past six years, including a mural paying tribute to George Floyd by @fumeroism that arrived in early June 2020.

So much for bank branches being a thing of the past: A Wells Fargo opened one storefront to the south on the Bowery several years back. Now, if we can just get a psychic or nail salon to open in the space between, it will feel like 2008 or so...

We are now signage official with the new Bank of America Branch

Photos by Steven 

The official BoA signage arrived yesterday at 119 Second Ave. at Seventh Street...

Read alllll the background about the first retail tenant for the building in this post.

[Updated] Bank of America makes it temp signage official on 2nd Avenue and 7th Street

The new Bank of America branch is shaping up at 119 Second Ave. at Seventh Street... and now with temp signage ...

... and a look inside...

As we reported last Oct. 4, BoA will be the first retail tenant at the condoplex. 

According to an email from the bank:

Come see us at our new location. We have ATMs, banking, lending and small business associates, as well as financial advisory specialists, ready to help you with your banking needs. Opening date: 03/11/2024.

The new building was ready for occupancy in mid-2021... six years after the deadly gas explosion destroyed this corner in March 2015 and took the lives of Nicholas Figueroa and Moises Locón. 

This arrival means the closure of the BoA at 72 Second Ave. and Fourth Street, a space that has served as a bank branch since the building went up in the late 1920s as the Industrial National Bank.

Updated 2/14

NOW SIGNAGE OFFICIAL... (thanks to Steven for the pics)...

In 2024, Bank of America will be moving on up on 2nd Avenue

Bank of America will close its branch on the NE corner of Second Avenue and Fourth Street on March 11, 2024, ahead of a move to a new financial center three blocks away.

As we reported on Oct. 4, BoA will be the first retail tenant at the condoplex at 119 Second Ave. at Seventh Street... 

According to an email from the bank:

Come see us at our new location. We have ATMs, banking, lending and small business associates, as well as financial advisory specialists, ready to help you with your banking needs. Opening date: 03/11/2024.

The new building was ready for occupancy in mid-2021... six years after the deadly gas explosion destroyed this corner in March 2015 and took the lives of Nicholas Figueroa and Moises Locón. 

As for 72 Second Ave., that retail space has served as a bank branch since the building went up in the late 1920s as the Industrial National Bank. 

Daytonian in Manhattan has more on the history of the address:

The new building at the corner of Second Avenue and East 4th Street was completed in 1929 — just before the onslaught of the Great Depression. The architects had produced a startlingly different structure. While the base reflected the solid architectural elements expected in a bank — Corinthian pilasters separating rows of arched openings and a substantial bronze entrance surmounted by a clock — the upper floors exploded in color and fancy.

While the overall style was vaguely Renaissance Revival, the green and beige terra cotta spandrel tiles and the rope-twist engaged columns added an exotic air.  The arcade-like topmost windows, surmounted by a hefty balustrade at the roof, added to the Mediterranean feel.

Hopefully, the storefront will become something other than a smoke shop. 

A Bank of America is checking into the corner of 2nd Avenue and 7th Street

Interior storefront renovations are underway at 119 Second Ave. (aka 45 E. Seventh St.) ...

According to work permits on the front window, Bank of America will be the new (and first) tenant of this newish condominium complex ... (H/T Adam!)

This branch arrival comes at a time when banks are reportedly closing neighborhood locations. (Plus, there's a BoA branch three blocks south on Second Avenue and Fourth Street.)

The corner building was ready for occupancy in mid-2021... six years after the deadly gas explosion destroyed this corner in March 2015 and took the lives of Nicholas Figueroa and Moises Locón. 

Figueroa, 23, who had recently graduated from SUNY Buffalo State, was at Sushi Park, 121 Second Ave. between Seventh Street and St. Mark's Place and the site of the fatal blast, dining with a co-worker. Locón, 27, worked at Sushi Park.

The explosion injured over 20 others and leveled 119, 121 and 123 Second Ave. 

The previous corner building housed vintage shop Love Saves the Day for 43 years... closing in January 2009 after their rent was tripled. (Their location remains open in New Hope, Pa.)

Previously

On Houston, a bank branch replaces a nail salon, and it feels like 2010

The Think Pink Nail & Spa outpost at 215 E. Houston St. closed sometime (last year?) here between Essex and Ludlow. 

And taking its place... a new branch of Popular Bank... per the new coming-soon window signage...

This arrival comes at a time when more and more banks are shutting down neighborhood branches nationwide. 

Per The Street: 

According to the U.S. Federal Deposit Insurance Bureau (FDIC), large commercial U.S. banking locations have fallen from 8,000 in 2000 to 4,236 by 2021 and 4,194 by 2022. The spider web of U.S. branch bank offices tied to big banks has slid significantly, as well.

As for the 2010 reference, that seemed like a time when any empty storefront would become a bank branch, nail salon or psychic adviser.

Citizens of the neighborhood prepare to say hello to this new bank branch

Photos by Steven

The HSBC-Citizens Bank switcheroo officially happens today on the SW corner of Second Avenue and Ninth Street...

Not sure what kind of festivities will take place to mark the occasion. (Do banks still give away toasters? If not, then they should.)

As previously reported on EVG, HSBC agreed last spring to sell 80 of its 148 U.S. branches to Providence, R.I.-based Citizens Bank. 

As the bank branches turn on 2nd Avenue

Meanwhile, in bank branch news... as you likely know, HSBC agreed last spring to sell 80 of its 148 U.S. branches to Providence, R.I.-based Citizens Bank. 

The HSBC on the SW corner of Ninth Street and Second Avenue made the cut and will transition to a Citizens Bank on Feb. 17. 

Ahead of that, workers yesterday installed the deep-green Citizens signage (with the daisy wheel logo ) ... EVG contributor Steven was there to mark the occasion...

... and at the end of the day, a temp HSBC was back on the marquee...

HSBC arrived here in the spring of 2010 ... before it was a bank branch, the Max Brenner's Chocolate by the Bald Man haunted this space. 

Previously on EV Grieve: 

• New HSBC reminds customers not to bring guns into the branch 

• Exclusive: The new HSBC branch will have two ATMs!

Bank of America makes it official on East Houston

The Bank of America signage is up now on Eldridge and Houston.

This will be the latest branch from the Bank of America Corporation, an American multinational investment bank and financial services company headquartered in Charlotte, N.C.

This BoA arrives at a time when other branches have been closing in the area, including the two Capital Ones in the East Village. In recent years, Citi, Chase and Santander all shuttered their outposts on Avenue A.

This address, 147 E. Houston St., was previously a Pay-O-Matic check-cashing center.

Previously on EV Grieve:
Bank of America checking into corner space on Houston and Eldridge

Chase unveils its Coffee Shop-replacing sign on Union Square

Chase, the newish tenant on the southwest corner of West 16th Street and Union Square West, has erected its new vertical sign on the building — a bland attempt at replicating the familiar neon that was here for 60-plus years.

Food writer Nick Solares shared these photos...



A little history. The Coffee Shop, the Brazilian-American diner run by former Wilhelmina models, closed here in October 2018 after 28 years in business. The Chase branch opened on Dec. 17 ... along with Chase-partnered Joe Coffee. (There's also another vegan quick-serve outpost of by CHLOE on the 16th Street side.)

During the renovations, workers removed the 1950s-era Coffee Shop neon sign — which belonged to the cafe (called Chase, oddly enough) that predated the Coffee Shop by several businesses.

There was some hope that the old sign would return after a cleaning/refurbishment. Obviously that isn't happening.


[Photo via Jeremiah Moss]

What's in your empty storefront? Capital One is closing both of its East Village branches

After May 8, Capital One will no longer have a bank branch in the East Village.

Closing notices are up in the locations on Third Street and Avenue C (above) ...



... and 10th Street and Second Avenue...


[Photos on 2nd Avenue by Steven]



The Capital One on the southeast corner of Third Avenue and 14th Street closed in July 2016 (that retail space is still for rent).

The bank is sending customers over to the newish multi-level flagship location on 14th Street and Broadway. (An EVG tipster first told us about these pending closures in January. Per the tipster: "It's Union Square or be damned" for Capital One customers.)

This continues the trend where banks are closing down local branches. Last June, The Wall Street Journal reported that banks across the United States have closed nearly 9,000 branches this decade "as more customers rely on digital tools to complete routine banking transactions."

In recent years, Citi, Chase and Santander all shuttered their outposts on Avenue A, making it a bank-branch-free zone for now.

Former Santander space for lease on Avenue A

This Santander branch closed at the end of April here on Avenue A at Fourth Street (southwest corner). And the for rent signs finally arrived late last week.

According to the listing via Newmark Knight Frank, "dry uses" are preferred...



The listing notes that the neighboring tenants are the coming-soon Equinox next to Katz's, Blink, New York Sports Club and Duane Reade.

The asking rent is $95 a square foot for the 3,700-square-foot space.

Pizza for 20 Avenue A

While on the topic of former bank branches on Avenue A ... the long-vacant former Chase space at Second Street (20 Avenue A) may finally have a tenant... the for lease banner came down on June 20.

On Friday, work permits were filed with the city for the following (in the ALL-CAP DOB style): TO INSTALL PIZZA OVEN AND DELI EQUIPMENT IN EXISTING STORE SPACE INCLUDING MINOR FLOOR AND WALL FINISHES AS PER PLAN.

Didn't spot any other info at the DOB ... such as the name of the new business. The monthly asking rent here had been $36,000, per the last listing for the address.

Chase vacated this storefront in November 2015. There were six or seven different brokers for the space in these past three years.

Previously on EV Grieve:
The retail-wine bar possibilities for the former Chase space on Avenue A and East 2nd Street

The retail space at 20 Avenue A no longer looks like a bank branch

Another broker for the former Chase branch on Avenue A

Avenue A bank-branch free for the moment with Santander's closure

This Santander outpost closed on Friday here on Avenue A at Fourth Street. Workers had removed the signage by the end of the business day.

A letter to Santander customers in January explained that the bank was consolidating this branch with the one at 841 Broadway.

This departure makes Avenue A bank-branch-less for now. The Chase closed at Second Street in November 2015 ... while the Citi shut down between Third Street and Fourth Street in January 2017. Both of those spaces remain on the rental market.

Previously on EV Grieve:
Reader report: Santander branch closing in April on Avenue A

The OTB parlor-bank branch post that you've been waiting for

Heading outside the usual coverage area for a moment... for this item of possible interest to people curious about former OTB parlors and new bank branches.

So! Down at the end of the Bowery at 7 Chatham Square in Chinatown, the OTB has sat empty — its lettering intact — since the New York City Off-Track Betting Corporation closed in December 2010.

This past summer, a for sale sign arrived...


[July 17]

And plywood went up last month...


[Feb. 26]

And on Monday, signage for the new tenant made its debut... woo!



This replaces the Chase branch that was a few storefronts to the north.

Patch first reported on the incoming Chase back in January. Wellington Chen, executive director of the Chinatown Partnership, said that this OTB was the most profitable branch in the city.

Meanwhile, the other branch, Chase, is expected to open next month.

Bank branches everywhere no more

[File photo of the former Citi branch on Avenue A]

Last week we noted that the Santander branch at Avenue A and Fourth Street is closing on April 27. At that time, Avenue A will be bank-branch free.

Apparently the days where you could count on a bank branch opening in every recently vacated retail space are coming to an end. (How far we've come from 2014!)

The Wall Street Journal (subscription required) today looks at the trend of banks cutting back as more customers move online.

To the article...

The number of branches in the U.S. shrank by more than 1,700 in the 12 months ended in June 2017, the biggest decline on record, according to a Wall Street Journal analysis of federal data.

Branch numbers fell again in the second half of 2017, according to related data submitted to bank regulators and reviewed by the Journal. That would add to the thousands of locations closed following the financial crisis, and is the longest stretch of closures since the Great Depression.

Many of the closings were in big cities and surrounding suburbs, where branches were consolidated largely because of falling foot traffic.

And!

Banks say they carefully consider which branches to close, examining deposit levels at each branch and commute time to the nearest location. “We continue to evolve and optimize our branch network to ensure that we’re operating as efficiently and effectively as possible,” a Capital One spokeswoman said.

For decades, banks needed to add new locations to grow, pushing the number of U.S. branches to a peak in 2009. But in the aftermath of the financial crisis, some started closing branches to save money — and then kept closing them to contend with low interest rates and higher regulatory costs.

Along the way, lenders realized they could maintain their deposit levels with fewer locations in a digital world where customers often prefer banks’ mobile apps and ATMs.

At this point we may need to retire the "bank branches everywhere" tag.

Previously on EV Grieve:
Capital One® departs 14th and 3rd (bank branch down!) for new Union Square home

Chase space on 2nd Avenue and St. Mark's Place is for rent

The East Village is down 2 Chase branches

Another broker for the former Chase branch on Avenue A

As noted yesterday, the Santander branch on Avenue A and Fourth Street will close on April 27. Neither here nor there but this will make Avenue A bank-branch free in late April. (Unless one opens before then...)

The Chase branch at 20 Avenue A and Second Street closed in November 2015 ... and that space remains on the market.

Late last week, a new wraparound for-lease sign arrived via Eastern Consolidated... and this is either the fifth or sixth (or seventh?) broker to try to rent the storefront in the past two-plus years. For example:


[October 2016]


[May 2016]


[February 2016]

Now, Eastern Consolidated has No. 20 listed at $110 per square foot. There's 4,000 square feet on the street level and another 4,000 in the basement. (PDF of the listing here.)

Eastville Comedy Club looked at moving from Fourth Street into part of the space at No. 20. However, CB3 denied the application last October, citing, among other reasons, that this address was never licensed before ... and that it exists in a saturated zone.

Previously on EV Grieve:
The retail-wine bar possibilities for the former Chase space on Avenue A and East 2nd Street

The retail space at 20 Avenue A no longer looks like a bank branch

[Updated] Reader report: Santander branch closing in April on Avenue A

An EVG reader writes in: "Ugh! My bank is closing. Santander is still in business but the local branch at Avenue A and Fourth Street is closing in April. Letters set to go out to customers this week or next."

And here is part of the letter, which notes the branch closes at noon on April 27:



After April 27, Avenue A will be bank-branch free for the time being. The Chase branch closed at Second Street in November 2015 ... while the Citi shut down between Third Street and Fourth Street last January.

The Boston-based Santander Bank announced last week that it was raising its minimum wage for employees to $15 per hour.

50 Avenue A is no longer a Citibank branch

About 20 minutes after the Citibank branch shut down operations yesterday at 50 Avenue A, workers began removing the signage here between Third Street and Fourth Street...

Workers continued to haul out the remains of the bank branch today... while telling customers that they need to go to the Seward Park branch on Grand Street for banking business...



There is also a Citibank ATM inside the 7-Eleven on Avenue A at 11th Street (and a branch on First Avenue in Stuy Town)...



Previously on EV Grieve:
The Citibank branch on Avenue A is closing

Citibank branch closes today on Avenue A

Back on Oct. 12, we shared the news that the Citibank branch at 50 Avenue A between Third Street and Fourth Street was closing in January.

And today is closure day — 3 p.m. to be exact.

The Citibank signage directs patrons to use the branch on Grand Street in Seward Park moving forward.

There has been an E.A.B. branch here since at least the early 1990s (if anyone can recall for sure). Citibank bought E.A.B. in 2001.

I asked a Citibank customer service rep here back in December about the closure. He said he didn't know anything — he was filling in from another branch — other that that the bank decided not to renew the lease upon the completion of its terms.

While we were talking, a woman who had been patiently waiting in a short line asked the teller if they had any 2017 calendars. The teller apologized and said that they didn't have any calendars. The customer said that she would return the next day to see if any calendars may have arrived. Meanwhile, a man — a regular on Avenue A and in Tompkins Square Park — sat sleeping in one of the chairs in the waiting area.

Previously on EV Grieve:
The Citibank branch on Avenue A is closing