It didn't look like Cooper Union tenant St. Mark's Bookshop was going to get its hoped-for rent reduction, but things changed when Manhattan borough president Scott Stringer stepped in. He met with both sides this week to work out a deal. Which is: Cooper Union will forgive $7,000 of the bookstore's debt, and its monthly rent will be lowered to $17,500 from the current $20,000 for one year. The store will also get students' help to improve its business plan, so perhaps this won't happen again next year. [NYT]
Filed under: