Hallmark shuttering in Flatiron District

TRD New York /
Mar.March 09, 2011 02:43 PM

A Hallmark store at 304 Park Avenue South is set to close in July, according to Jim Gladstone of Walter & Samuels, the building’s managing agent. The store, on the corner of 23rd Street, has posted a sign in the window advertising the space.

Although he said couldn’t comment on why the store was closing, Gladstone did note that “the card business isn’t too great” and added that he suspects the e-card industry has taken a bite out of business.

The 3,300-square-foot store has an asking rent of $200 per square foot, according to Gladstone, who said that the space has received more than one offer from prospective tenants.

The building’s owner, 304 Park Avenue South LLC, isn’t courting any specific tenant for the retail spot, Gladstone said.

No other retailers have plans to leave the building at this time.

While it was not immediately clear whether Hallmark is planning a citywide reduction in stores, as has been seen in the book business, another of the company’s Manhattan locations at 52 East 59th Street closed roughly two years ago.

Neither Hallmark nor the building owner were immediately reachable for comment.


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