This morning, Posman Books in New York City's Grand Central Terminal announced it will be closing. In a letter, being handed out to customers today and described as a “heartfelt thank you and farewell,” CEO Eugene Posman said the store will close at the end of the year.
The letter states that after 15 years in its current location, Posman has been asked to vacate in an effort to improve pedestrian circulation in and around Grand Central.
“Our leaving is directly related to the development at One Vanderbilt. Part of our space is located directly under that building,” general manager Robert Fader told PW. To build the 65-story, 1.6 million sq. ft. office skyscraper One Vanderbilt, developer SL Green is making $200 million in improvements to Grand Central’s pedestrian flow, according to the NY Post.
“Of course it’s not the end of Posman Books!,” the handout notes. Posman has stores in Chelsea Market and Rockefeller Center, and is opening a store in the remodeled World Financial Center in March 2015.
Nor is the move necessarily the end for Posman's in the train station. A sign in the store's window says it is "actively working with Grand Central to find a new location."