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We all figured it would happen eventually, but now it’s been confirmed: Vornado will close the Times Square outpost of the Virgin Megastore during the first quarter of next year, in hopes of getting a rent much higher than the $54-a-square-foot rate being paid right now. “We bought the Virgin business to wind it down to get a hold of the real estate,” Retail Real Estate Division head Sandeep Mathrani told Reuters. Well, at least they were honest about it. (Related, which holds the lease on the Union Square outpost of the store and co-owns Virgin Megastores with Vornado, hasn’t announced its plans for that store yet, but the property’s lease expires next February.) What tenant will go in there next remains something of a mystery–especially when you think about how the space that once housed the Dave & Bustery video-game-bar Bar Code, which is right next door to Virgin, has been vacant for a few years now–but we have some suggestions!
Ah, why am I even bothering? It’s so going to be a bank, because they’re the only outfits left that can pay NYC rents. At least until the economy finally crashes, anyway.
Vornado Goes To Plan B: Closing Virgin Times Sq. [Reuters via Racked]
[Photo: minimoniotaku]
Wow. Speechless for once.
A nail salon would be nice. A meganail salon.
Vornado can go to HELL!!!!
Starbucks.
This truly should not come as as surprise. I have not been to a record store in oh, say, years. It’s not by choice either. That Virgin Megastore, well, and Sephora, used to be one of my favorite ways to blow off work when I worked in Times Square. But why bother now? I download everything now. Downloading is the basis of today’s political economy, wel, at least in the music industry.
Wouldn’t it be symbolic if the Virgin Megastore was replaced by a great big Apple Store?
They could even politely nickname it “The Big Apple”
@HONEYBFLY: you know, i didn’t even think of that idea, even though it’s probably more plausible than any of the choices i put up (save, of course, the “another goddamn bank” option).
@cosmiclove: That seems to be the definition of “by choice,” actually.
@HONEYBFLY: Winner and undefeated champion of this thread = you
@Halfwit: yeah
Besides the lines of kids outside to see Tokio Hotel, does it even qualify as a record store anymore? The window displays are all about everything BUT music. before you could download everything at least it was a good place to get imports, which always seemed to be either hundreds of dollars or offered a boxed set for ten.
@Maura Johnston: @loudersoft: I am humbled by your praise, thank you kindly
@FluxEqualsRad: The store definitely has some really good in-store performances, with Vampire Weekend and Santogold to be as recent.
World’s biggest Duane Reade!!
I went in there the other day to take a shit (parents in town, Times Square hotel, etc) and it was hard to find (basement) and when I got there the bathroom looked just like a Starbucks bathroom (used by a lot of people not buying coffee/records, covered in piss and toilet paper). I did notice a Santogold listening station that I didn’t use on the way out.
Sad. Ever since that day that the Virgin Megastore came through for me when I needed to buy “Krush Groove,” a yoga DVD, and a Ramones poster within a half hour (true!), it’s been nothin’ but love.
Homeless shelter.