On East Broadway, two neighboring mini-malls, one filled with downtown fashion labels and galleries, the other emptying out, reveal vastly different circumstances thanks to different real estate deals with their landlord: NYC. wilfredchan reports
On the first floor, there are no buzzy parties or packed hallways; it’s mostly quiet except for the people passing through on their way to the grocery store and the voices of shopkeepers chatting with one another. One is Ms. Zheng, a cosmetics store owner who has been in the mall since it was built in 2000. She pays a little less than $3,000 a month for her first-floor stall. “This mall used to be crowded, vivid, and rich, but now it’s so depressing,” she said in Mandarin.
75 East Broadway tried to capitalize on Yi Dong’s success and opened more than a decade later. It’s known locally as Dong Fang Guang Chang, or “Oriental Plaza.” The owners of 88 weren’t happy about 75 going up, but in the early aughts, business was good at both malls. For New Yorkers used to the unrelenting pace of gentrification, the decline of an immigrant shopping center may seem unsurprising, even inevitable. But what differentiates the two mini-malls across the street from each other isn’t mere circumstance; it is linked, like many things in the city, to their respective real-estate deals — in this case, their leases with the city, signed just over a decade apart.
Terry Chan, whose father led the 88 lease deal, says his parents didn’t really understand what they were signing at the time. “They just took the lease and said thank you,” he recalled. “Everything came in English, and they couldn’t understand it.” How do you save a community mall when its intended community is gone? Chan said he still thinks of Yi Dong as a “Chinese mall, and we would like to keep it as such.” But he also knows his old tenants are unlikely to return.
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