Howard Johnson's closing on Broadway

[Candyman]

I saw on the news last night that HoJo is closing on Broadway. Since the Gaiety it over the restaurant does anyone know if this effects Denise's lease. They said they would stay open until a new tenant was found. Could this be the end of the Gaiety? ;(

[Guest JustANametoPlay]

Ho Jos may not own the building so it may not even be an issue.

[Cooper]

>Ho Jos may not own the building so it may not even be an

>issue.------ Ho-Jo's does not own the building. The issue is will this very old 3 story building in a prime location, surrounded by new, state of the art 50+floor buildings, remain once Ho-Jo's vacates...From the news report I heard, no one knows for sure what the future will hold for this site. It's up to the owners and the highest bidder. The Gaiety also leases.

[Rick Munroe]

This makes me sad. First they turn 42nd St into a suburban Disney mall, and now this. When I was a kid, my parents always took me to see Broadway shows & plays, and two of the things I always looked forward to were: walking from the Port Authority across 42nd & passing all the sleazy porn shops (and having my picture taken in front of them; Mom and her camera!), and going to that Ho-Jo's for a quick snack before the show. I feel like my childhood has been robbed. I think I need to go on eBay right now and buy something. ;(

[Chuck50]

BUY THE BUILDING and save it for us. HUGS Chuck

[Spida]

I miss the REAL time square also.. I think I was about 15 and I remember guys selling leather stuff outside the shops on the street. Oh for the good ol times..

[KY_TOP]

>BUY THE BUILDING and save it for us. HUGS Chuck

 

Neat Idea...just imagine "Rick's HO Jo's"... I'll never think of any Howard Johnson's the same again. Think they would start putting a Butt shot on the sign?

[VaHawk]

I can remember them selling a hell of lot more than leather goods! LOL, just because it's white bumpkins that doesn't mean it will do anything other than make you burp! :-)

[Candyman]

RICK'S HoJo's-It does have a ring to it. The Ho would have a hole new meaning. Not to mention 28 flavors of ???? and what could he change the all the clam strips you can eat to ???? Maybe Derek could be the host-what a way to be seated!!!!

 

Come on Rick break out that Visa card and buy the place for us

 

Candyman-it melts in you mouth not your hands:P

[Guest fukamarine]

>I saw on the news last night that HoJo is closing on

>Broadway. Since the Gaiety it over the restaurant does anyone

>know if this effects Denise's lease. They said they would

>stay open until a new tenant was found. Could this be the end

>of the Gaiety? ;(

 

I think it should be self-evident that a small older building that is sitting on some of the most valuable real estate in the world is living on borrowed time. It's current use as a restaurant and a strip joint couldn't possibly produce enough revenue to qualify for it's "highest and best use" to use a real estate term.

 

fukamarine

[Guest Sports]

Great! It's a great location for a Starbucks.

[ad rian]

>Great! It's a great location for a Starbucks.

 

as opposed to a place to buck stars....?

[johnnysneakers]

So if the property is sold and replace with a 50+ highrise, what happens to the licence that Denise holds? Does she lose it or can it be transferred to a new location?? Even to other owners of that incredible license? This is the inevitable question?

[johnnysneakers]

So if the property is sold and replace with a 50+ highrise, what happens to the licence that Denise holds? Does she lose it or can it be transferred to a new location?? Even to other owners of that incredible license? This is the inevitable question?

[ddarko]

I think we should all take a deep breath. First, developers don't decide to build skyscrapers on the drop of the hat. It takes years of planning, air rights have to be acquired, a anchor tenant has to be secured. If the site ever does get developed into something else, everyone will get plenty of notice.

 

Right now, NOTHING is going to happen that threatens the Gaiety. The fact is, the real estate market is soft in New York, not just downtown but everywhere. Just a couple blocks south of the Gaiety, Boston Properties is still looking for a tenant to replace Arthur Andersen in the new tower that was supposed to the accounting firm's headquarters before it went under. For the moment, the market is saturated.

 

Second, the real estate columnist in the New York Post (1/13/03, page 24) reports that site will soon be rented out to a national retailer. The reporter quotes someone described as "familiar with the deal" as saying, "'The site will be rented in a month.'" All that's going to happen right now is that the Howard Johnson moves out and someone else moves in

[ddarko]

Incidentally, I think it's safe to predict that the Gaiety will never be replaced by a tower. The site is too small. The only way a skyscraper would be feasible is if the surrounding buildings were knocked down, including the Lunt-Fontanne Theatre. And the Nederlander Organization, which owns it, will never let that happen.