Morning Reads: LES Rents Fall, New Orchard Street Gallery, Watchmaker Closes Shop

New York City rents are dipping, but experts says you should “contain your glee.” On the Lower East Side, prices are off about 2.5% year-over-year (Curbed).

The legal battle for the Hells Angels’ clubhouse (Post).

The judge in a lawsuit against Sheldon Silver is stepping aside (Daily News).

A new gallery opens at 33 Orchard Street, operating as a collective in which “art professionals (will) contribute to the overhead and production costs of shows with the intention of participating in the shared experience of running an art gallery,” (Gallerist).

More on the city’s war on Jerry’s Newsstand (Jeremiah’s Vanishing NY).

A Bowery watchmaker is calling it quits after 65 years (NYT).

Have a look at these $5000 limited-edition Katz’s Deli sneakers (Tablet).