The Cast Forced off Orchard Street Due to Rent Hike
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The Cast lost its lease to 71 Orchard Street and is in search for a new location. It had operated here for five years, and is now empty as of yesterday. Owner Chuck Guarino posted the unfortunate news to the brand’s Facebook page this week, noting that gear is currently available in a pop-up across the way at Great Frog.
71 Orchard is synonymous with 314-320 Grand (Zarin Fabrics building), which was purchased earlier this year by the Malachite Group for $25.6 million. It’s obvious that the Cast was no longer part of the master plan here. In fact, we are told that the landlord’s daughter was in charge of renegotiating the lease, and raised the rent to $4,000 for the tiny sliver of a space. We should point out that this greedy owner already has two corporate banks in the building (Bank of America, TD Bank), and wasn’t content with the current rent roll of a perfectly operational small business.
Here is the Facebook announcement:
Yes it’s true. It’s a fucking sad day. Manhattan real estate has sunk its fangs into yet another victim. We’ve lost our lease. After 5 1/2 years we will be closing at 71 Orchard. The Cast is stronger and more alive than ever with a full Men’s & Women’s Spring/Summer 2016 collection in the works. We will be having a 50% Off Sale in store and online through Today to sell off all current stock. Starting tomorrow, The Great Frog at 72 Orchard St. will have The Cast Pop-Up shop while we’re looking for a new space. We thank you for your patronage and support throughout the years and look forward to seeing you in a new store as soon as possible!
This isn’t the first time that The Cast has been on the run, though. Guarino had previously operated in the basement of 119 Ludlow Street, currently home to the Con Artist Collective. The move to a space above ground happened back in 2010.
The search is on for a new location…