“Canal Street Market” near Manhattan’s Chinatown, which has been operating for eight years, announced that it will be closing on the 29th of this month. As the shops here celebrate the traditional Christmas festival, they also feel sentimental about the arrival of the final moment.
In early December 2024, the Canal Street Market team announced on social media, “We will permanently close ‘Canal Street Market’ on December 29, 2024. Eight years ago, we began our mission of supporting small businesses against the backdrop of the vibrant Chinatown community. With so many restaurants, retailers, and entrepreneurs setting up shop here in the form of pop-ups or first-time ventures and flourishing, it has been an incredible journey.”
Starting from December 2016, the owner of Canal Street Market, Jianzhi Zhuang, started this business. A young generation born and raised in Chinatown, Zhuang’s family purchased the property in 2010 with original plans to sublet to traditional Chinese stores. However, faced with lackluster business prospects and increasing government property taxes, Zhuang decided to adapt to market changes by catering to the needs of young people and filling market gaps.
Providing below-market rent to dozens of retail merchants, the market located at 263 Canal Street (connected to 265 Canal) operated from 11 am to 8 pm, offering Western fast food, rice rolls, ramen, bubble tea, chocolates, and specialty snacks. The retail shops on the other side operated from 11 am to 7 pm, selling clothes, art decorations, and souvenirs. As most of the businesses were first-time ventures run by young entrepreneurs, the products carried a fashionable cultural aspect and emphasized individual style. The market also provided a space for locals and tourists to relax and socialize.
According to Chen Zuozhou, Executive Director of the Chinatown Business Improvement District (BID), unlike the other stores on Canal Street, the items here have their own distinctive taste in terms of range and style. He views this as an experimental opportunity for the next generation of immigrants at this landmark, which has been very successful and popular.
The reporter observed that many businesses moved in post-pandemic, relying on the stable flow of visitors to Chinatown. Faced with the impending closure of the market, shop owners expressed their reluctance to part ways.
Yu Chen from Taiwan operates a trendy store named “Iced Milk Tea,” selling artistic clothing, sterling silver jewelry, and romantic candles, creating a cozy home atmosphere. She admitted that “business mainly relies on tourists, and the performance is good.” She plans to relocate her shop to tourist-dense areas like Williamsburg in Brooklyn to continue operations.
Ran, an employee at “Aroma De Merrie,” a store specializing in natural candles, mentioned that the business has always been good, with many old customers now inquiring about the new location. “We hope customers will continue to support us, even if it means taking a few more steps,” he said. Ran revealed that the owner plans to participate in pop-up events, open an online shop first, and expect to find a suitable location to reopen next year in March or April.
Ying Chu, an Indian-born Chinese who runs a T-shirt souvenir shop, attracted customers with pure cotton materials and unique designs. Ying expressed surprise at the closure of his store after just a year and a half. However, he sees this break as an opportunity to rest briefly and plan for future development. “The rent in this place is very cheap. The same price elsewhere would only get you half the space, which is very small.” He hopes for better luck next year in finding a similar location to continue his business.
In the food section, the “Cheung Fun King” food shop posted a notice: “We leave the stage of Canal with reluctance and unwillingness, believing we will meet again.” They also provided addresses of their two other stores in Manhattan and Flushing.
Currently, it is unclear whether the owners of the market plan to offer the property for lease to other landlords or intend to sell the entire property. However, according to Chen Zuozhou, the Chinese in this area are smart and business-savvy, so they likely have alternative plans in place.
“Canal Street Market” announced that from December 26 to December 29, they will hold a retrospective event to cherish precious memories, and shops will offer discounts to commemorate the end of their business operations.