Pearl River Mart to Close its Flagship in the New Year

Posted on: December 7th, 2020 at 5:08 am by

The iconic Pearl River Mart is again a refugee. This time, chased from its three-year-old Tribeca flagship.

The store, founded in SoHo in 1971 by husband-wife team Ching Yeh and Ming Yi Chen, will close “sometime at the beginning of the new year.” Cause of closure is the one-two punch of coronavirus and an unforgiving landlord, according to a blog post on the company website.

“Our negotiations with the landlord have stalled and he has made clear his desire to use the courts to recoup every dollar he can, not just from our business, but from our personal assets,” wrote Joanne Kwong, the daughter-in-law of the Chens, who began running operations four years ago. “With the future of our economy uncertain and little relief on the horizon for commercial tenants, it has become clear that we, along with thousands of other small businesses in NYC, have no other choice but to shut down.”

“I cannot describe the toll that this situation has taken on our family and longtime employees,” the post continues.

Despite the closure, Pearl River Mart will maintain its presence at the Chelsea Market.

The eclectic store spent four decades selling Chinese home goods and culture to New Yorkers. Their fifteen-year tenure at 477 Broadway concluded in 2016 when the landlord jacked the rent with a five-fold increase to $6 million per year. But Pearl River Mart rebounded a year later with two locations, Tribeca and Chelsea Market, and later with space at the Museum of Chinese in America.

Recent Stories

Christopher Marte Leads Race for Councilmember of District 1

The Primary results are not yet conclusive, but point to Christopher Marte, a son of the Lower East Side, as replacement for Margaret Chin for Councilmember of District 1. As of this morning, Marte holds a commanding lead, garnering roughly 40 percent of votes cast. Just shy of the threshold for victory; but Gigi Li […]

Another Seward Park Co-op General Manager Resigns

More leadership upheaval at the Seward Park Co-op. Residents were recently informed that Brendan Keany, who began his tenure as general manager as Frank Durant’s replacement on April 1, tendered his resignation. For official reasons unknowns. A replacement is currently being sought, below are the communications distributed to the residents a couple weeks ago. Dear […]

Jimmy Jazz Founder Joseph Khezrie Dies at 90

The founder of Jimmy Jazz, the streetwear retailer born on Delancey Street, passed away earlier this month. Joseph Khezrie was 90-years-old. He died on June 4. The company posted a memorial on Instagram this past Sunday, which included a brief video. “Our founder, Joseph Khezrie, was a deeply loyal, respectful and hard-working man,” the post […]

Cactus Store Resumes Summertime Residency on Essex Street

The Cactus Store returned to the Lower East Side this weekend for its fourth seasonal outing, and first since coronavirus ruined everything. As before, the succulents sellers plant annual roots in the lot at 5 Essex Street. Infrastructure from prior years remains in place. Saturday was opening day. The Cactus Store is a product of […]

Ludlow Street Pizzeria Hits the Open Market

La Margarita Pizza might not have much time left in Hell Square. The Ludlow Street pizzeria is now pitched on the open market. The 800 square-foot store at 268 Ludlow appeared on Craigslist in late-May for $9,000 per month in rent. The listing caps some eight years in business for the Lower East Side pizza […]