A for rent sign is displayed on the storefront of Paper House, a party store at 269 Amsterdam Avenue (between 72nd and 73rd Streets). The listing can be found on management and brokerage company Walker Malloy’s website, with the asking rent at $35,000 (originally $40,000).
Walker Malloy’s website indicates that “all noncompeting uses” will be accepted at the space, which is 2,000 square feet. It also indicates the space is available now.
But I spoke to someone at the store who said they may or may not close. He declined to get into too much detail, which is understandable.
An online reviewer also stated how heartbroken she is that Paper House may need to close because of a rent hike.
So it sounds like the owners of Paper House have not yet renewed their lease because of the increased rent. And that the landlord is shopping for replacement tenants. So if they can’t find someone to pay $35,000 (or whatever price they end up coming down to), perhaps Paper House will stay open.
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