Colony Records is leaving its Times Square location within the next month-ish. Why? Because the rent has been quintupled, from around $1 million to around $5 million. Vanishing NY points out that the landlord is Stonehenge Properties, which evicted some small retailers from a building on Ninth Avenue between 17th and 18th streets. The Colony space is now on the market with an option for big box retail. [NYP via VNY]
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