When David Letterman signs off later this month he will also be leaving a neighborhood that he helped sustain.
Now the neighborhood is a very different one than the one that existed when Letterman moved into the Ed Sullivan Theater.
The show brought a new buzz and vitality to the neighborhood, improving the business environment, and making storefront space more desirable. This, combined with the redevelopment of Times Square to the south, and a general increase in commercial rents citywide, began driving up rents as much as tenfold over the show’s 22-year run at the theater, some real estate officials estimate. The Mom and Pop stores of that earlier time are now mostly gone.
It is a story of how a show helped a neighborhood.Share