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Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.

We sort of forgot Pier 1 existed, and apparently we weren't the only ones. The furniture store is leaving Manhattan entirely, driven out by rising rents. It's currently in the middle of closing its 26-year-old shop on Third Avenue and 87th Street, and it will vacate an even-older location at Fifth Avenue at 15th Street when the lease expires in 2012. There's a silver lining, though, at least for 18-year-olds who like cheap clothes: The Union Square storefront "gets heavy student foot traffic from nearby New York University and the New School just blocks away, so the building is searching for a retail tenant like Zara or H&M to appeal to that crowd." [The Real Deal]

Zara Fifth Avenue

666 Fifth Avenue, New York, NY 10019 212-765-0477 Visit Website