Manhattan's relentless transformation into a soulless corporate shopping mall has claimed a few more victims this week. Real estate investment company The Jackson Group has purchased the retail space of 333 Sixth Avenue, which currently houses a Papaya Dog, Crazy Fantasy Tattoo and "adult novelty" sex shop Fantasy Party. The Real Deal reports that the $16.5 million deal closed on April 10th and the company already plans to raise rents substantially to attract big retail outlets. “I am getting close to $300 [per square foot] and taking it to $500-plus,” The Jackson Group owner Ike Chehebar revealed. “You get the Times Square foot traffic without the $2,000 [per square foot rents].” Sigh.
Some of the clients Chehebar would like to court? Victoria's Secret, Sephora, Dylan's Candy Bar, Aeropostale and Under Armor. In other words, all the stores that tourists travel hundreds of miles to visit because this is the kind of "Only In New York!" retail they can't find at home. DNAInfo spoke to William Kelley, executive director of the Village Alliance, an advocacy group that aims to "enhance the neighborhood’s quality-of-life by creating a cleaner, safer and more enjoyable environment." Kelley predicts "the closure of this adult shop will go a long way toward improving this section of the Village."
Guess it's time to find a new spot to purchase your tubular meats and lacy things (at least until Victoria's Secret opens).
[The Real Deal via GrubStreet]
