Manhattan Borough President Scott Stringer, joined by the President of The Cooper Union, Jamshed Bharucha, and the co-owners of St. Mark’s Bookshop, Bob Contant and Terry McCoy, today announced that The Cooper Union and St. Mark’s Bookshop have reached an agreement which will provide significant relief to the struggling bookstore located at 31 Third Avenue in the East Village.
Cooper Union has agreed to reduce the rent by $2,500 per month for one year and forgive $7,500 of a prior loan it made to the bookstore. St. Mark’s has agreed that, working with Cooper Union students, the relief will allow it to come up with a viable business plan not dependent on further subsidies.
“I am pleased that I helped engineer an agreement between
Cooper Union and the St. Mark’s Bookshop that will allow this treasured
community resource to remain open,” said
“Both The Cooper Union and St. Mark’s Bookshop reflect the
independent and tenacious spirit of the
Messrs. Contant and McCoy said: “We are sincerely
appreciative of the rent concessions Cooper Union has granted us. Our bookstore
and Cooper Union are both vital to the intellectual life of our community and
we look forward to working together in ways that will benefit us both. We
especially want to thank Borough President
"This rent reduction doesn't just save a bookshop - it
“I am extremely pleased that the coordinated efforts of passionate local residents, elected officials and Cooper Union have enabled St. Mark’s Bookshop to keep its doors open,” said Assembly Member Deborah J. Glick. “In addition, I am especially appreciative of the willingness of Cooper Union to work towards a collaborative solution that has enabled this venerable local institution to remain in the community. The overwhelming support that St. Mark’s Bookshop has received from the community is a testament to the importance of local businesses and we are thrilled this one could be saved.”
“I'd like to recognize the outpour of support by our community for the bookstore. Our voices were heard and St. Marks Bookstore was saved,” said City Councilmember Rosie Mendez. “I also want to thank Cooper Union for coming to the table and negotiating a deal that allows our community to keep one of our unique neighborhood institutions open for business. And now it's up to us to buy books and buy often.”
St. Mark’s Bookshop is a commercial subtenant of the
Cooper Union, which leases retail space in the
The Cooper Union for the Advancement of Science and Art is a distinguished private college of art, architecture and engineering founded in 1859 by Peter Cooper, an inventor, industrialist and philanthropist.
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