End of An Era - CBGB's to close in October

Still trying to find a decent link to this story off the elevator news screen… but reports are saying that CBGB’s owner Hilly Kristal has announced he won’t be renewing the lease on the building when it’s up in October.  CBGB’s has been on the loosing end of a legal battle with the owners of the building for a long time now over the terms of the lease – mainly the rent (which is rumoured to be close to $40K/month!) – and the costs have simply caught up.  I read somewhere once the CBGB’s did over $2 million a year in t-shirt sales, but the place is empty 4-5 days a week.  So sad to see a landmark go.  Save CBGB’s site is here.