GEM Super Value Store on Delancey Street Hits Market for $25K per Month
The GEM Super Value Store might not be long for the Lower East Side. Real estate listings are currently circulating online, pitching the 3,000 square-foot space as “brand new” and “perfect for all general retail uses.” Which is to say, the dollar store is henceforth operating on borrowed time.
The space won’t come cheap, either, pegged at $25,000 in monthly rent.
This six-year-old GEM location at 142 Delancey – the former Loews Delancey movie theater – is the second coming for the brand here on the Lower East Side. Its previous incarnation was located a block away at 128 Delancey, but shuttered years ago due to the arrival of Blue Condo.
In 1911, the row of tenement living and ground level retail between Norfolk and Suffolk Streets was leveled to make way for the Loews Delancey Theatre. According to Cinema Treasures, the brick-box theater opened in the spring of 1912, and allegedly featured eight acts of vaudeville; movie shorts and newsreels were used strictly as filler material. It remained a functioning theater with a single screen until roughly 1977, when it reportedly closed for good.