Apparently, Katz's Deli is safe from gentrification, thanks to a $17 million deal with a seemingly self-important luxury developer (more on that later) in which they sold their air rights and neighboring lots.
According to the New York Times, Katz's is the only small business that managed to overcome the gentrifying force, Magnum Real Estate, in a $75 million deal that ultimately closed many small businesses down.
The 128-year-old deli will remain at 205 East Houston Street, though will receive new neighbors in the form of an 11-story luxury condominium.
Jake Dell, owner of Katz's Deli, stated "So many people in the city have a story and a connection to this place. To me personally, preserving it was the most important thing."
Unfortunately, many other small businesses, such as Ray's Pizza, Empanada Mama, and 24-hour Turkish restaurant, Bereket, weren't as lucky.
"I'm sorry they went out of business, but it's a part of evolution," stated Ben H. Shaoul, the founder of Magnum Real Estate Group.
But then he kept talking, owning up to gentrification in a way that would seem to alienate him from the values of real New Yorkers saying simply, "You call it gentrification, I call it 'cleaning it up.'"
What would anyone expect from a man who told the New York Times in an interview back in 2015 that he considered "[one-bedrooms] in the $1 million range; two-bedrooms under $2 million; and three-bedrooms under $3 million," to be affordable.
Of course, we peasants don't have $1 million to purchase an "affordable" one-bedroom home, so we're stuck getting cleaned out through this needless overpricing.
Regardless, Katz's survival was mostly due to the fact that Mr. Shaoul has an affinity for pastrami, stating that they "were adamant in keeping them there."
According to the New York Times, the one-bedrooms will begin at $1.275 million for 657 square feet, featuring concrete ceilings, wide-plank white oak floors, with kitchens containing charcoal lacquer cabinets, marble backsplashes, and black quartz countertops.[via The New York Times] [Feature Image Courtesy Instagram]