NEW YORK’S KNITTING FACTORY TO CLOSE DOORS?

Gothamist.com reports that New York’s landmark venue The Knitting Factory may soon be forced to close its doors, following in the footsteps of countless other NYC rock rooms.

The 27,000-square-foot building that houses the roughly 11,000 square foot Knitting Factory, is up for sale. The sale, which includes the venue and 18 decontrolled residential loft apartments, is expected to go for $15 million or more.

This news is not as bad as it initially seems. Apparently the venue is protected by its current lease through 2009 which should hold up whether or not the building is sold. Beyond that, the venue may be able to stay regardless depending on the terms of any new lease that is negotiated between the Knitting Factory and the building’s new owners.

-VN

[Thanks to Adina for the tip]