After 30 years in a dark, windowless basement just off Times Square, Carolines on Broadway is closing
It’s upstairs neighbor, Ruby Foo’s, wasn’t so lucky. The restaurant’s ownership group found itself in a legalover whether it had properly notified its new landlord of its intent to renew its lease and alleged that the landlord was “trying to wring additional revenue out of the space.”
According to Nicholas, Hirsch’s rep, that seems to be happening again. She said Fosterlane offered a lease at a price that “doesn’t make business sense” and is “way beyond market value.” She says Carolines countered, offering to stay for six months or a year while the club found a new home and Fosterlane secured a new tenant, but Fosterlane didn’t budge. “Unfortunately, 30 years of being a good tenant doesn’t really count for much.
A person who answered the phone this morning at Fosterlane’s U.S. office, in Atlanta, said, “We don’t do interviews,” and hung up. But Fosterlane may have motive to seek a tenant who can bring in more cash. Meanwhile, Fosterlane’s owner — the Kuwait Investment Authority — is at the center of a political struggle. The death of the country’s emir in 2020 left a power vacuum just as
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