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The question of whether the corner of President and 5th is just bad luck for restaurants arises on a Brooklynian thread about the shuttering of Playa and Cabana Bar, which opened a little over a year ago in that location. Prior to that, the space briefly hosted three other eateries: Night & Day, Lookout Hill, and Biscuit BBQ. The closing of Playa, though, seems sorta odd, as it did much steadier business than the three places that preceded it. A source close to the restaurant gives the following account of Playa’s shuttering: The guy who ran the three businesses before Playa was brought in as a partner on the new venture because he owned the space’s liquor license. However, he’s now in a legal dispute with the landlord and pulled out of his partnership in Playa, taking the liquor license with him. Playa couldn’t turn a profit without the booze license, hence the closing. There’s probably a lot different takes on why it closed, but that’s one of them. In any event, what would you like to see go into the space next? GMAP


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  1. Holy Hyperbole Batman!!!!

    11217 – I believe Oak Hill Capital is based out of NYC (they definitely have a huge office here) and not for nothing but where do you think the name Duane Reede came from?

    We are kinda getting silly here and besides there is nothing better for liberal NY voters than if Sarah Palin gets the republican nod, so how about we say:

    Shop at Duane Reede and help the Democrats become a permenant majority…..

  2. “Based on the #,traffic, revenue and profit of these type of stores (large pharmacies) clearly many many many people seem to find that they serve a need.”

    8-07-09
    Gothamist:

    Despite (or because of?) its ubiquity, Duane Reade is deeply in debt, and last week its corporate parent, private-equity firm Oak Hill Capital Partners, shelled out $125 million to save Duane Reade from defaulting on its debt.

  3. Seems if what you are saying is true about the last three failed businesses all having a relationship with said liquor license guy, I would dump him or buy him out. He may be carrying the curse…

    I would like to see a place with an outside fastfood-like drive up window for stroller service.

  4. **
    “Shop at Duane Reade, Help Sarah Palin Get Elected in 2012 | Duane Reade is hoping to change your opinion of the crappiest drugstore chain in NYC. For the first time in a long time, the company is about to launch a big brand-advertising campaign as part of an effort to “make New Yorkers think of Duane Reade as the hometown favorite.” One little non-hometown detail that probably won’t be referenced in the cheeky new campaign: the fact the chain is owned by Oak Hill Capital, which is controlled by Robert M. Bass, a Texas billionaire and one of George Bush’s staunchest supporters during his two terms in office.” [NYT]

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