Racked's description of Financial District clothing retailer/bunker Syms is classic: "Off-price suit store Syms in the Financial District is almost comically depressing: fluorescent lights buzz overhead while hunchbacked, elderly salesmen adjust their toupees and drift listlessly about the racks of clothing." The store, located at 42 Trinity Place just south of the World Trade Center, is firmly entrenched in the FiDi of new, so "comically depressing" just won't do. Which is why the Post reports that Syms ownership may be looking to develop a new tower on the spot. They've purchased the air rights of one neighboring building, and they are most likely eying more. There's a lot of behind-the-scenes controversy regarding all this, because Syms is also trying to delist its shares and some investors see it as a scam to privatize right before a huge real estate cash-in. The current store would almost certainly be razed (just look at the thing!) if the plot is developed.
· Flagship Makeover [NYP]
· Bonkers Syms Bunker Done For in Fidi? [Racked]