Again, Gotham Book Mart in Need of Rescue


Anonymous Patron writes "New York Times: The Gotham Book Mart, one of New York's best known literary landmarks, was saved from closing only two years ago by two white knights who swooped down at the last minute and arranged the purchase of a $5 million building that would house its collection of rare books.

Now, the 86-year-old bookstore is in trouble again."


From the article: They say that Mr. Brown, who hoped to buy the building eventually, fell behind on his $51,000 monthly rent...

This bookstore needs to make $50,000 a month just to cover rent. Then you add in employees, etc... and you are talking a lot of money. The high rent in New York City is a bigger factor on the downfall of bookstores in NYC than is Amazon or other online book sellers.

It might have something to do with the fact that the owner sounds like an old coot who can't manage a business.

Subscribe to Comments for "Again, Gotham Book Mart in Need of Rescue"