New York Virgin Megastore Shuts Down

The Times Square Virgin Megastore will shut down in April because the floorspace it occupies would be more profitable to its owners, Related Companies and Vornado, with another tenant. Virgin pays only $54 per square foot in rent while the market rent in the area is $700 per square foot, so the highest volume music store in the U.S. is going to be shut down. Read more...