Hey, we're WAY overdue some good news.

Remember when we told you that the building that hosts Three Lives & Company Bookstore was sold to new owners? We weren't too hopeful that it would be able to stick around, but we are happy to now say we were wrong.

After nearly a year of month-to-month leases, Toby Cox, Three Lives' owner announced that he signed a new lease with the new owners, Oliver Realty Group.

The deal was negotiated without brokers and have not been disclosed but we're tentatively optimistic considering the positive tones of both Cox and Oliver Realty Group's managing partner, David Wine.

Specifically, in an e-mail to his customers, Cox stated, "We are delighted with the cooperation we have had with the new owners... and we thank them for their commitment to keep Three Lives & Company in the West Village," as well as "We look forward to serving as your bookseller for the years ahead." 

Also, as reported by DNAInfo, Wine has been a New Yorker for a long time and began working on the lease with Three Lives very soon after purchasing the property.

So yeah, sorry for jumping the gun on that one.

“We know how beloved Three Lives is in the West Village and we’re thrilled to provide it with stability in the neighborhood,” said Wine in a statement. “Three Lives is one of the classic NYC bookstores and I encourage all New Yorkers to shop there this holiday season.”

[anad]

New York real estate hardly ever leads to a happy ending, so this is very welcome news. We find ourselves having to point this out a lot recently, but the myth of the struggling independent bookstore is just that, a myth.

Struggles with skyrocketing rent have little to do with the bookselling industry specifically, and in reality, it's large companies like Barnes & Nobles that are having problems on their own. 

For example, when this Barnes & Nobles closes in January, there will no longer be any bookstores in the entire Bronx. Here's to hoping that independent booksellers will continue to thrive and hopefully, move uptown.

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You can visit Three Lives & Company at 154 West 10th Street and you don't have to rush!