Faerman Cash Registers Closure Scare on the Bowery [Updated]
A Bowery relic is no more.
Faerman Cash Register Company just closed the till for the last time, as it were. Tipsters wrote in to say that showroom at 159 Bowery is clearing out; the gates were drawn yesterday afternoon.
Update: the store is not closed. They were observing Yom Kippur
As previously reported, 159 Bowery is on the open market, further indicated by the large Cushman & Wakefield sign hanging from the facade. Asking price for the property is $7.9 million and includes air rights.
The three-story building has been in the Faerman family for decades, since 1965. But the company itself dates back even further at this location – back to 1910 when the Third Avenue El still darkened the block. That’s when Faerman and his brother started it all, after emigrating from Poland. His son Bernard took the helm upon returning from the European front – a veteran of D-Day – following World War II.
Bernard later bought 159 Bowery for $75,000, giving the business a permanent home, where he sold and repaired cash registers. His son Brian eventually joined the team as a third-generation owner and continued to run the store until recently. The younger Faerman, now in his fifties, spent his “entire life in the cash register business.”
Business declined in recent years, largely due to fancy POS systems. Faerman became a niche go-to for restaurants seeking an old-time vibe or period film shoots.