Hunts Point Market signs temporary leasePosted: Updated:
The Hunts Point Market is staying in the borough until at least the end of the year.
The lease with the city for the market expired yesterday. Market executives and the city were at the negotiating table working out a new lease. Vendors had earlier said rising costs and an aging facility could prompt them to relocate to New Jersey.
However, executives were able to sign a nine-month temporary lease today. The agreement includes plans to work on creating a larger, modernized market. The market is a borough staple bringing in about $2 billion per year and employing thousands of people.
Hunts Point Market fighting to stay in borough