Cake Shop is Closing on Ludlow Street After New Year’s Eve

152 Ludlow St.

152 Ludlow St.

After 11 years fighting the good fight, Ludlow Street music club Cake Shop is shutting down after New Year’s Eve. The news was delivered via email yesterday.

The independent music venue at 152 Ludlow St. has had many brushes with death in the past few years. The message to supporters noted that, “location and sustainability in our current and long running model have been an issue for more than a long time.” The email went on to explain, “we are failing to keep up with the bills, we have been for years.”

The plan is to relaunch is the new year with a new concept.  Cake Shop has already started a series of farewell concerts. Brooklyn Vegan has more details about that. Back in 2013, the Living Room closed its Ludlow Street location and moved to Brooklyn, before shutting down there, as well. This means Pianos is the only music club left on Ludlow Street, once a top destination for live music. (Arlene’s Grocery is still located around the corner on Stanton Street).

Cake Shop is Trying Once Again to Find Business Partners

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Image from Cake Shop’s website.

The Ludlow Street music venue, Cake Shop, has struggled to stay afloat in recent years. Those struggles continue. Here’s the pitch that landed in our in-box a short time ago from co-owner Nick Bodor:

Cake Shop on the Lower East Side of Manhattan is looking for partners to buy the upper street-level space. The owners want to find a well-financed, like-minded equity partner to take over the business for the upstairs restaurant/bar. This way, we can survive and keep booking the best bands, comedians and reading series from all over the world in the basement-level venue and bar.

Do you want to create something special and own your own bar? Do you have a food concept that would kill it on Ludlow Street? Now is your chance to be a part of the iconic Lower East Side artistic history. Let’s make it happen!

Us: Cake Shop is an internationally known small music venue, bar and cafe. We want to focus on live music and performances, as we have built up great relationships with thousands of bands since 2005. We are looking forward to concentrating on showcasing our favorite artists, while providing a stage for new talent.

You: A passionate individual, or small group of friends, who are well-funded and have always wanted to own a bar or bring your food concept to the masses. To be clear- the food concept must be realized with an “electric” kitchen, as there will not be any hood fans for gas cooking. This could operate as two separate businesses, or a well-structured partnership with a passion to keep the Lower East Side alive and interesting.

We have 9 years left on our lease. Cake Shop wants to team up to continue to grow with our beloved changing neighborhood.

Let’s get together and talk about it.

HUBB NYC purchased 152 Ludlow St., the building housing Cake Shop, last year for $29 million. The music club was nearly forced to close down in 2012, but loyal fans came to the venue’s rescue through a crowdfunding campaign.

 

Four Winds Unloads Gotham Court for $29 Million

Cake Shop is Looking For New Investors

Gotham Court, Home to Cake Shop, is Sold For $19.1 Million

149-151 Essex Street.

149-151 Essex Street.

City records show two mixed-use buildings on the Lower East Side were purchased in April by a new firm, known as Four Winds Real Estate, for $19.1 million.  The complex, known as Gotham Court, shares a central courtyard.  It’s made up of a 5-story building at 152 Ludlow St. consisting of a retail space occupied by the music club, Cake Shop, and two duplex apartments.  It backs up to a 7-story structure at 149-151 Essex St. with two ground floor commercial spaces and 20 rental apartments.  The Essex Street storefront was formerly home to the Laugh Lounge and may become a new venue from the team behind Acme and Indochine.

Last year, the property was listed for $21 million.  The sale was first reported in April by the Real Deal, which noted that it is the first deal for Four Winds, a firm created by Joshua Landau and David Schneiderman, although the firm previously “acquired the debt on various properties.”

Gotham Court was developed by real estate agent Barbara Rohregger and attorney Harris Barer in 2002 for $9 million.  Last year, Cake Shop held a successful fundraising campaign to stay in its Ludlow Street home.