Colony's Rent Hike

By now you've heard the news, first released yesterday here and since spread like wildfire, that Colony Records must close its long-standing Times Square home in the next month or so. Today, the Post followed up on the story and reported that the reason for the closure is not just because we all have iPods, it's because Colony's landlord is quintupling the rent to $5 million.


flickr

The Brill Building was sold in 2007 to Stonehenge Properties for $151 million. Here's the rendering they present of the future Brill at 1619 Broadway--and Colony's space--on their website today:



"Generation," a fantasy big-box flagship store features the usual glass and glitz, the horror of contemporary life in New York City. And here's how they're marketing it:



"Amazing opportunity for a brand to control a high-trafficked corner location"--can accommodate "big box"--in the spot where a family-run business thrived for 6 decades and contributed so much to America's cultural history.

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