‘Kopitiam’ on Canal Street Crowdfunds for Survival After 25% Rent Hike

Posted on: November 14th, 2017 at 5:11 am by

Canal Street snack shop, Kopitiam, is headlong into its search for a new space. Its brief tenure near the corner of Orchard Street will soon conclude, thanks in large part to increasing rents.

At the time we first broke the story, ownership informed us that a larger location was necessary. And while that might be, it appears the true impetus is a 25% increase in rent. (Recent real estate listings note the monthly dole at around $3,000.) To continue on and aid in the “expansion,” the two-year-old business just kickstarted a crowdfunding campaign via Indiegogo.

Kopitiam will reportedly terminate operations at the end of December, and plans on a March 2018 return. The goal is reportedly to stay on the Lower East Side.

Below is an excerpt from their elevator pitch…

Unfortunately, our current landlord has requested for another 25% increase after our 2 years rent ends. Therefore, we have decided to move to a bigger location and expand to a larger menu.  However, our abilities are limited and the expansion is expansive. So, please help us to keep this beautiful tradition alive by supporting Kopitiam.

Our final day will be until end of this coming December. We have found another location nearby and was hoping that we can lock down the location as soon as possible. With your help, the funds we received will be used for renovations and equipments purchases. We hope to be up and running by February/March 2018. We are not asking for just donation but for the amount you put in, will be used as gift credits and can be redeemed at our new store.

As of this morning, the campaign has raised $660 of the $250,000 target.

Kopitiam is exactly that. Broken into parts, the word is a blend of “kopi,” Malay for coffee, and “tiam,” Hokkien for shop. A veteran of the foodie market scene (e.g. Hester Street Fair), owner Kyo Pang opened the brick-and-mortar store at 51B Canal Street exactly two years ago. Its menu includes a host of sweet and savory treats, such as Kaya Butter Toast, Malaysin Seafood Spring Rolls, sticky rice, and coconut cake. Tea, coffee, and fresh juices are also available.

Recent Stories

Full GovBall Lineup Announced for Summer 2020

This year marks the 10th anniversary of The Governors Ball Music Festival on Randall’s Island, and Founders Entertainment has tapped some big names to kick off the celebration. Headliners for this year’s festival are GovBall veterans Tame Impala, alongside New York indie darlings Vampire Weekend. New additions to the top slots include venerable Fleetwood Mac […]

International Center of Photography Launches at Essex Crossing Next Week

For the International Center of Photography, four years of transition come to an end next week, as the institution plans its inauguration at Essex Crossing. The 40,000 square-foot museum and school, reunited for the first time since the midtown move, will debut on January 25 with a free “Opening Community Day.” Visitors on day one […]

Michelin-Star Chef Bringing Omakase to Former Black Tap on Ludlow Street

From shakes to sushi. After the epic bomb that was Black Tap, 177 Ludlow Street is now taking a more upscale tack. Omakase, which is Japanese dining for the ultra-luxe set. Real Estate Weekly has the scoop, reporting that a new mystery tenant, who currently owns and operates eight restaurants in New York and Tokyo, […]

‘Karvouna’ Evicted from the Bowery After Less than a Year

Restaurants can’t seem to make it work at 241 Bowery. The latest entrant, Karvouna Mezze, just joined the growing list of failures at this address. The City Marshal paid a visit to the restaurant and shut it down. All told, Karvouna lasted barely one year. Partners Dimitris Vlahakis, Wei Chen, and Chef Giuseppe Scalco (Merakia […]

Beastie Boys and Spike Jonze Announce New Documentary for Apple+

Apple yesterday announced that a new Beastie Boys documentary is coming to its Apple+ platform this spring. Right alongside the 26th anniversary of Ill Communication. Beastie Boys Story is just that – the history of the band as told by surviving members Mike D. and Adam “Ad Rock” Horovitz. It’s based on the bestselling Beastie Boys […]