31 October 11 | Chad W. Post

From the NY Daily News:

The struggling St. Mark’s Bookshop was dealt more bad news Tuesday when its owners were told they will not receive a rent reduction.

Owners Bob Contant and Terry McCoy found out their bid for a $5,000 rent cut was nixed by landlord Cooper Union in a meeting with T.C. Westcott, a vice president for finance and administration at the arts and engineering school.

“They don’t feel they can do anything in terms of the rent,” McCoy said. “She started out by telling us that Cooper is really losing a lot of money.”

This is pretty unfortunately, especially given that more than 40,000 people signed an online petition in support of St. Mark’s rent reduction request. There are a few bright spots in this piece though:

[Westcott] did offer Contant and McCoy a deal: They can defer a month’s rent and pay it back over time. [. . .]

McCoy said the outcome of Tuesday’s meeting, while disappointing, is not devastating because the community has rallied around the bookstore in recent weeks.

“People have gone out of their way to patronize the store,” McCoy said. “It’s helped us enormously.”

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