GEM Super Value Store on Delancey Street Hits Market for $25K per Month

Posted on: March 26th, 2019 at 5:00 am by

The GEM Super Value Store might not be long for the Lower East Side. Real estate listings are currently circulating online, pitching the 3,000 square-foot space as “brand new” and “perfect for all general retail uses.” Which is to say, the dollar store is henceforth operating on borrowed time.

The space won’t come cheap, either, pegged at $25,000 in monthly rent.

This six-year-old GEM location at 142 Delancey – the former Loews Delancey movie theater – is the second coming for the brand here on the Lower East Side. Its previous incarnation was located a block away at 128 Delancey, but shuttered years ago due to the arrival of Blue Condo.

In 1911, the row of tenement living and ground level retail between Norfolk and Suffolk Streets was leveled to make way for the Loews Delancey Theatre.  According to Cinema Treasures, the brick-box theater opened in the spring of 1912, and allegedly featured eight acts of vaudeville; movie shorts and newsreels were used strictly as filler material.  It remained a functioning theater with a single screen until roughly 1977, when it reportedly closed for good.

Recent Stories

Woman Dies Month After Being Hit by School Bus in Chinatown

A pedestrian struck by a school bus in Chinatown last month has succumbed to her injuries. On December 16, at approximately 1:45pm, 67-year-old Ahhon Lau was struck in the intersection of Monroe and Catherine Streets. When officers arrived at the scene, Lau was found unconscious and unresponsive, with trauma about the body. EMS transported her […]

Brooklyn Fare Market Makes it Official at One Manhattan Square

Brooklyn Fare Kitchen & Market officially announced its Lower East Side entrance with banner advertising at One Manhattan Square. The vinyl skins are now in the windows along Cherry Street, advertising free delivery and fresh produce. As previously reported, the upscale grocer signed a lease to occupy 25,500 square-feet across two floors in the base […]

Crab du Jour Goes Down After a Year on Grand Street

Crab du Jour, the ubiquitous franchise selling Cajun-style seafood, closed its Lower East Side location earlier this month. The shutter comes exactly one year after the fast-food spot first opened at 384 Grand Street. Several readers alerted us to the closure, noting that the restaurant hasn’t been open the last several days. Moreover, customers can […]

Former Red Square Retail Demolished for New Development

Nearly six years ago, the Dermot Company purchased the former Red Square for $100 million from Michael Rosen. The residential complex was further upscaled in the interim, and whitewashed into submission. The $100 million deal included space in the adjacent one-story retail. What largely went unnoticed at the time, though, is that the Rosen family […]

Man Shot Dead After Opening Door to Gunman at Lillian Wald Houses

A man was shot dead inside his apartment in the Lillian Wald Houses Friday night after the suspected killer knocked on his door, police said. The perp entered 691 FDR Drive just before 10:00pm and went to the fourth floor apartment of thirty-year-old Davon Venable. Reports noted that Venable and his father heard a knock […]