In the world of real estate, as in life, perception is in the eye of the beholder.
The retail market in the West Village and Greenwich Village is no exception, as neighborhood staples close due to rising rents, leaving spaces vacant and landlords searching for high-rent-paying tenants. While neighbors may find the shuttered shops to be eyesores and longtime retail tenants may find the skyrocketing rents unfair, many brokers leasing those spaces are saying it’s due to a hot market and the changing nature of the neighborhood.
head for the border
It’s getting hot in these kitchens!
British chef Kyle Connaughton is suing Chipotle and its CEO Steve Ells for allegedly involving him in a scheme to steal Momofuku chef David Chang’s noodle-bar concept.
In court documents obtained by The Observer, Mr. Connaughton claims that he was drafted to Read More
Eat/invest at your own discretion. Read More
On the corner
Chipotle shares fell as much as 7.2 percent after Greenlight Capital founder David Einhorn said he was betting against the company today at the Value Investing Conference.
That the stock fell on Mr. Einhorn’s pronouncement is not surprising—as The Wall Street Journal reported earlier this month, markets typically respond to Mr. Einhorn’s public comments on companies as copycats pile into his bets. Indeed, the Einhorn Effect is greater when the hedge fund manager takes a negative view of a company, with a median same-day decline of 4.9 percent on the nine shorts The Journal included in its study.
In the latest installment of The Observer‘s local dispatches, the corner of 44th and 9th, outside the Theater District Chipotle, has a welcome new addition. Amidst the cigarette butts and used plastic bag detritus that is expected for any streetcorner are over 25 avocado skins and the corresponding pits. Didn’t whomever discarded the pits Read More
Chipotle founder, chairman and chief executive Steven M. Ells is bringing the heat to Greenwich Village. The “gourmet” taco and burrito czar recently bought the $11 million penthouse at 40 Fifth Avenue. Mr. Ells bought the 10-room co-op in Greenwich Village from psychologist Edwin Fancher, a co-founder and part owner of the The Village Voice Read More