Wednesday, February 18, 2009

Mercury Lounge Up for Sale!?

photo from vles (Virtual Lower East Side)

Is NYC's indie rock rite of passage really up for sale? Thankfully NO, but the building that it calls home is. Of course that building does include Mercury Lounge, so what does this mean for this cornerstone venue of promotions giant Bowery Presents? According to sources the venue's lease runs until 2018, and has an option to renew for another 5 years after that.

So we can rest easy for now, but the ridiculous rent prices may be cause for concern in the survival of music venues in the big apple. Mercury Lounge already pays $20,000 a month in rent with a 3.5% annual increase, can it even survive til 2018? Hopefully the answer to that is yes, but I guess we will find out in time. For the time being we'll just keep the good times rolling at the shows.

+ LES Building That Houses Mercury Lounge Hits the Market [Curbed]

- Sonic

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