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According to Crain's, the owners of St. Mark's Bookshop are hoping to move the store to a smaller location. The E. 9th Street institution is facing major financial hurdles due to declining book sales. Last November, it received a hard-won reduction in rent after Manhattan borough president Scott Stringer brokered a deal with its landlord, Cooper Union. But the break only lasts one year, so the owners need to come up with a new solution, like finding a less expensive space.
In order to finance the move, they've applied for a $250,000 grant in a contest hosted by Chase Bank in partnership with Living Social and the U.S. Chamber of Commerce. (Harlem's Hue-Man Books, which is also closing, has also applied for a grant.) Chase will announce the winner in September. If St. Mark's does win, its owners hope rent a smaller storefront somewhere in the East Village.
· Another bookstore bites the dust [Crain's New York]
· St. Mark's Bookshop Saved! Cooper Union Agrees to Reduce Rent [Racked NY]
· St. Marks Bookshop [Official Site]