Pearl Street Wine Market & Café (2523 Market Ave., 216-675-0112) in Ohio City will close at the end of March, says chef and owner Karen Small, because of an unexpected rent increase that will make it impossible to continue operating. Small opened the wine bar with partner Jill Davis in the former Flying Fig space about a year and a half ago.
“Our landlords tried to raise our rent by $7,000 a month, which takes us up to about $25 a square foot, so we refused to renew our lease with them,” Small explains.
Small has been in that space for 25 years, ever since opening Flying Fig in 1999. She says that her current monthly rent of $4,300 will climb to nearly $11,000.
In response, Harsax Management Company – the property owner – doesn’t dispute the numbers but does offer some context. Prior to the recent purchase of the building, notes CEO Randall Sacks, the building was owned by Ohio City Inc., a non-profit that had not been charging market rate.
“It was never going to work unless we got the building up to market rent,” adds Sacks. “We love Karen. I’m a huge fan of her restaurant and we’ve always had a great relationship with her. We have the utmost respect for Karen.”
Small says that her hope is to find a new home in the neighborhood for Pearl Street.
“It’s unfortunate and we’re attempting to relocate, but they took us right down to the wire,” she says.
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Douglas Trattner
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