7-Eleven is Closing Down After 5 Years on Grand Street
On the Lower East Side, one chain breaks as two more are forged.
Word on the street is that the Seward Park franchise of 7-Eleven is folding. A tipster sent along this image showing the fire sale of 75% off goods in-store at 403 Grand Street.
Charles H. Greenthal (management) confirmed that it’ll close on August 31. We’re told that corporate guaranteed the first five years rent on the decade lease, and the co-op negotiated an early termination fee of $174,000.
This 7-Eleven location caused quite the stir amongst locals. It all started in May 2012, when the co-op board, which owns the retail strip, was on the verge of inking a ten-year lease. Residents rebelled, arguing that there was little benefit to hosting this national chain here. Ultimately the board approved, and after fifteen months of community drama and construction, finally opened at 403 Grand Street in August 2013.
There is one other Lower East Side outpost, though. Just a few blocks north on Delancey Street.