Rumor: Gap or Banana Republic Taking Over EarthMatters?

Today in reader rumor mongering, we hear word of a possible big box replacement tenant at 177 Ludlow Street. One with checkered history here on the Lower East Side.

You’ll recall that local favorite EarthMatters is exiting the neighborhood later this month after more than a decade in business on the ground level. The Ludlow real estate is now available for the taking, likely brought about by the impending sale of the building itself. Asking rent is $25,000 per month. What deep pockets could afford this?

Funny you should ask. Talk inside EarthMatters points to the Gap or Banana Republic (same parent company) as possibly opening shop here. The chances of this happening might appear rather slim, as Ludlow seems like an unlikely spot for a Gap outpost. But then again, so did St. Mark’s Place back in 1988. As our tipster quipped, “God help us all if it’s true.” We’ll keep you posted either way.