It’s not looking good for the independent bookstore

The fate of beloved West Village bookstore Three Lives has been up in the air since June, when store owner Toby Cox penned a letter saying its lease was moving month-to-month at its home of more than 33 years as the building’s owner looked to sell. It didn’t take too long for the valuable slice of West Village to go; a tipster of Jeremiah’s Vanishing New York points out that the property has traded hands, with its deed hitting public record last week.

There are several red flags here for the independent bookstore. First off, the property at 154 West 10th Street at Waverly Place sold for $4 million over its $10 million ask. Following that, the buyer is Oliver’s Realty Group, a luxury real estate company helmed by David J. Wine, former vice chairman at Related Companies with a history of pumping out high-end projects like The Caledonia and Tribeca Park.

What fate will befall Three Lives is not yet clear, but it may well go the way of so many other New York institutions before it.

From http://ny.curbed.com/2016/10/3/13147184/three-lives-bookstore-west-village-sold

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