Commercial Real Estate & Advisory

Relocation Keeps Video Store in East Village

October 29, 2008

Sinvin Realty, LLC announced that Kim’s Video and Music, the iconic media store renowned for its eclectic selection of movie rentals, books and music with an avant garde edge, has leased the 1,750 s/f retail space at 124 First Avenue between East 7th Street and St. Mark’s Place. Kim’s founder, Youngman Kim is closing his Mondo Kim’s location at 6 St. Mark’s to move into the smaller store on First Ave.

124 First Ave. was once home to long-time East Village smokehouse institution, Kurowycky Meat Products, nestled there for 52 years, until the changing economy forced the meat market out last year. When Kim’s was looking for less extravagant spots, 124 First Ave. building owner Irynak LLC, was asking $192,000 per annum for the ground floor and basement level space, reports STEVE RAPPAPORT, senior director at Sinvin, who represented Kim’s in the deal and has helped market the leasing and sale of 6 St. Mark’s. Jane Pollard represented the landlord in the negotiations for this new 10-year lease with a five-year option to renew.

Originally opening a neighborhood dry cleaning business on Avenue A in the 1980s, Kim had set aside part of his shop for video rentals, eventually ditching the dry cleaning all together with the video and music boom brought on by CD and DVD media. Kim saw and filled the need for alternative entertainment options and built a loyal customer base over the years.