We recently reported that Oxbow Tavern had permanently closed its restaurant at 240 Columbus Avenue, between 71st and 72nd Streets, after confirming this with the owner of the building.
In late May, the space was put on the market for $195 per square foot per year, which would come out to $390,000 per year (or $32,500 per month).
But Oxbow Tavern has announced that they do expect to reopen at some point and at a new location.
A Facebook post from the restaurant stated:
“The reason we are closing is we think it will be a long time – possibly as long as 1-2 years – before fine dining returns to 2019 levels. In the interim, for us to continue to occupy this space would be too expensive. Better to wipe the slate clean, not accumulate a mountain of debt, and sign a new lease when the dust settles. Many other restaurant owners agree. In addition, the notion that we should operate under a government-mandated limited occupancy is unworkable. The restaurant business is hard enough when you’re at 100% occupancy! One word about our staff: we have the best staff in all of NYC. This made closing – even temporarily – a gut-wrenching decision. But we simply couldn’t afford to stay “open” indefinitely under the current circumstances.”
While it’s impossible to know when things will return to normal for restaurants and other retail businesses, let’s hope it’s sooner than later. And let’s hope the owners of Oxbow Tavern (eventually) find a great new space on the UWS.
Featured images c/o Google Street View