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.

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

Something seems different about the new cube

@evgrieve Funny, it doesn't look the way I remember it. pic.twitter.com/VRDAKkoNDz

— Pinhead (@evpinhead) November 1, 2016

Heh...

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

The Capital One® on the southeast corner of Third Avenue and 14th Street has closed... ahead of a move a few blocks to 14th Street and Broadway...



...(they took the ATMs too)...



The new location, set to open today, was to include a cafe, according to previous reports ...



Not sure of the status on that. The Capital One-Peet's Coffee & Tea® combo in Midtown has closed.

Anyway, thoughts on what might be next for the southeast corner of Third Avenue and 14th Street? Aside from a Duane Reade (so you don't have to cross the street), beer store or another Capital One®?

A Santander Bank branch opens today on 13th and Broadway; and where's the Maison Kayser?

Well, not terribly newsy or exciting. That another bank branch is opening.

The address was previously home to a Cosi and Cohen's Optical. In November, there were reports that the Paris-based Maison Kayser was opening a 3,000-square-foot bakery on 13th and Broadway.

Given the arrival of the bank, an EVG reader asked if the bakery was still in play.

In looking at the report from last November in the Commercial Observer:

Paris-based Maison Kayser has inked a 3,000-square-foot deal at The Feil Organization’s 841 Broadway, the landlord announced in a press release. That space will be split up between the ground floor and mezzanine level of the eight-story building at the corner of East 13th Street.

Maison Kayser signed a 15-year lease, and will open early next year. It’s joining such retail neighbors as Max Brenner Chocolatier and Santander Bank.

So you have to figure that Maison Kayser will be opening in the storefront to the north of the bank branch...



In 2013, Gothamist named Maison Kayser one of the city's 12 best bakeries: "And though chain bakeries can be forces to fear, we have to admit this spot whips up one hell of a baguette," they wrote.

This location marks the ninth now in the the city for Maison Kayser.

Previously on EV Grieve:
Report: Maison Kayser opening a large bakery on 13th and Broadway (25 comments)

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

The retail space that is currently home to a Chase branch at 130 Second Ave. is on the market, available starting in January, according to a listing at Icon Realty.

Here are a few details from the listing:

130 2nd ave resides on St. Mark Place [sic] which is defined by a perpetual eclecticism born from an ever-evolving New York City and its mixing of the pop- and counter-culture movements. Dominated by pedestrians and boasting a lively, approachable and socialable sensibility.

-Prime East Village Corner Commercial Space on Second Avenue and St. Marks Place Accepting Offers for: General Retail Use, Restaurants/Bar, Office Space, Gyms/Fitness Centers
-New elevators will be installed and space will be delivered as a white box with a new all glass store front

And the asking rent? "$875,000 Per Annum." (Good for a mere $72,000 a month.)

Perhaps Chase figures they can do without this location… especially since there's another Chase branch two blocks to the north at East 10th Street.

And it appears that Chase is downsizing. There's a for rent sign above the Chase branch on Avenue A and East Second Street, as we noted last month.



This space is also available starting in January, according to the listing.

Union Square getting a bank branch-coffee shop combo because why not

So here's what is in the works for the southwest corner 14th Street and Broadway via Crain's ...

Capital One has come up with an alternative to the staid retail bank branch. It will launch a concept in Union Square, at 853 Broadway, on the building's ground, basement and mezzanine levels. The entrance will feature a large café operated by Peet's Coffee. The space upstairs will differ from a typical retail bank branch. Capital One will create a large work lounge, where customers can camp out and use free Wi-Fi.

Capital One, which operates several similar cafes across the country, is also eyeing a location on Lafayette Street near the Puck Building for another branch.

Capital One introduces new curbside banking on 2nd Avenue

Or maybe it is part of their new campaign, "What's in your trash?"

Exciting new business opens on University Place

At East 11th Street … formerly home to Jack Bistro, which closed last fall.

Now neighbors to the European Wax Center, which opened in the space last held by the Cedar Tavern.

Photo by @Zipperfilm

About all those bank branches

Anne Kadet filed an enlightening (and depressing!) article this past weekend at The Wall Street Journal that explores a question we all ask: Why are there so many *&^%%#&*(#()!!@ bank branches in NYC? (You may find the article here, though you may need a subscription to access it.)

The TD branch at the former Mars Bar space on Second Avenue and East First Street is the jumping off point for the piece, which tells us that, in the past 10 years, "the banking gods" dropped 461 new branches on the city, bringing the total to 1,763. Per the article: New York City has one bank branch for every 4,700 residents, more than twice the national average.

To the article:

The most obvious reason for all the banks in the Big Apple? New York is where the money is. Gobs and gobs of money. According the latest FDIC report, bank branches in the five boroughs hold a collective $850 billion in cash — that's 21% of the nation's deposits.

Of course, a lot of that cash is corporate savings stashed in commercial banks. But even when it comes to consumer cash, New York is hot. The typical retail bank branch holds just $35 million in deposits, which is roughly the break-even point. TD's typical NYC branch, meanwhile, holds $125 million. That pretty much explains why it can outspend the city's mom-and-pop shops when it comes to paying rent.

TD, in particular, is aggressively expanding and opening new branches in the city.

Regional President Chris Giamo, who is in charge of TD's New York operations, tells the Journal about a customer survey that the bank conducted.

[C]ompared to the rest of the nation, New Yorkers are obsessed with branch convenience. While folks in other towns value frivolities like friendly service, New Yorkers more often rank convenient ATMs and branches a top priority. They want locations near their homes, their offices and the offices of their spouses, says Mr. Giamo. They want to see their bank everywhere they go.

From the sound of it, you soon will see a bank branch everywhere.

Previously on EV Grieve:
The former Mars Bar is becoming a fucking bank branch

So where's that fucking bank branch that's taking the former Mars Bar space?

The fucking TD Bank signage arrives at the former home of the Mars Bar

The fucking TD Bank branch is now open on Second Avenue

TD Bank branch opening next Friday on 2nd Avenue; party with free gift for the 1st 100 visitors!

Hey, that TD Bank branch anchoring the Jupiter 21 building on Second Avenue at East First Street is opening late next week.

The new neighborly neighbors placed welcome brochures on cars around the, uh, neighborhood with more details… the trees are coming! (And how many trees went into making these brochures???)





Any thoughts on what the gift might be? (Do banks still give out toasters? Or have they downsized to toaster mitts?)

Of course this Grand Opening Celebration will cause the new Mars Bar coming to a space somewhere in this building to ramp up their own First Day/Night Extravaganza.

The fucking TD Bank signage arrives at the former home of the Mars Bar

At long LAST the much-anticipated TD Bank signage has arrived at the former Mars Bar space… On Jan. 2, 2013, Steve Cuozzo reported at the Post that a 4,300-square-foot TD Bank branch was going to anchor the retail space at Jupiter 21, the new luxury apartment building that rose from the ashes of the Mars Bar and other businesses on Second Avenue and East First Street.

The TDs arrived yesterday afternoon, per EVG reader EJ ...



(BoweryBoogie noted this as well this morning.)

This likely won't do much for those Mars-Bar-is-returning rumors. Maybe next door? This was the rumored space for some kind of Mars Bar redux...



There's also retail space available on the East First Street side... or else someplace simply hasn't removed the sign yet...



And on the doors to the TD job site...



Previously on EV Grieve:
The former Mars Bar is becoming a fucking bank branch

So where's that fucking bank branch that's taking the former Mars Bar space?

So where's that fucking bank branch that's taking the former Mars Bar space?

[Dec. 28]

Last Jan. 2, Steve Cuozzo reported at the Post that a 4,300-square-foot TD Bank branch was going to anchor the retail space at Jupiter 21, the new luxury apartment building that rose from the ashes of the Mars Bar and other businesses on Second Avenue and East First Street.

So where is this fucking bank branch anyway?

Well!

In recent days, someone finally put up some brown paper in the windows here… perhaps a sign of work commencing!


[Jan. 1]

Before workers papered the windows, we spotted a microwave inside… perhaps an incentive for opening a checking account here?



Meanwhile, it has been almost a year since we heard our last Mars-Bar-is-returning rumor.

Previously on EV Grieve:
The former Mars Bar is becoming a fucking bank branch

Exciting new business finally opens on East 14th Street

[Photo by @fnytv]

Hey, that Wells Fargo is now open on East 14th Street near Fourth Avenue... at the site of the mostly awful but serviceable (mostly!) Cafe Amore's Pizza Restaurant...

And is this where the Tad's Steak's was before the pizzeria...?

Previously on EV Grieve:
Exciting new business opening on East 14th Street

Construction update on exciting new business opening along East 14th Street

As noted in April, the mostly awful but serviceable (mostly!) Cafe Amore's Pizza Restaurant on East 14th Street near Fourth Avenue is becoming a — ding! ding! — Wells Fargo branch... the above photo shows that the plywood shanty has arrived. Wonder if the bank branch will be constantly hiring for a cashier like Cafe Amore was...

Previously on EV Grieve:
Exciting new business opening on East 14th Street

Bank branch becomes bank branch at former site of the Fillmore East

And over on Second Avenue near East Sixth, EVG contributor peter radley notes that the Emigrant Savings Bank will become an Apple Bank starting today...

And the address had a long history as various theaters and clubs... most notably the Fillmore East...



... and here's a photo of Timothy Leary circa 1966 from its days as an off-Broadway venue:


The Emigrant Savings Bank started going up in this space in 1997...

Previously.

Jeremiah wrote about the Fillmore East here ...

Exciting new business opening on East 14th Street

The mostly awful but serviceable (mostly!) Cafe Amore's Pizza Restaurant closed on East 14th Street near Fourth Avenue just about this time last year.

Now! There's signage indicating who the new tenant will be.



Bank branch! Not a surprise! What else would you expect to open here? Or anywhere?

And h/t to EVG regular Gojira for the tip.

Previously on EV Grieve:
Marshal seizes Cafe Amore on East 14th Street

The former Mars Bar is becoming a fucking bank branch

[A Mars Bar mural circa October 2009]

A 4,300-square-foot TB Bank branch, actually, as Steve Cuozzo reported today at the Post. It makes sense that the soulless new building rising here — dubbed Jupiter 21 — has an equally soulless type of retail tenant.

And whatever happened to Mars Bar owner Hank Penza's plan to open a new bar... or at least have the opportunity to reopen in the new building here on Second Avenue at East First Street?

Breaking: Former bank branch to become a Duane Reade on First Avenue

[February 2010]

The now-shuttered HSBC branch (the one that some residents tried to save) on First Avenue just north of 14th Street is getting a new tenant. Earlier in the week, pcvstBee pointed out that renovations had started on the space.

Now, a reader passes along this tip ... that the Duane Reade on 14th between First Avenue and Second Avenue will be moving into this former HSBC space (yes, right next to the CVS). A Duane Reade employee and the Fruit Stand Guy outside the former HSBC confirmed this to the reader. (Woo! Sourcing!)

One more reason why we need bank branches every few feet

As you may be able to tell (ha!), the Chase branch on Second Avenue at St. Mark's Place is closed this weekend... (wonder how many people missed the 75 yards of caution tape and tried to walk in anyway...)

So you have to walk up two blocks to the next Chase...