Rent Hikes Claim Another West Village Business, Report Says

WEST VILLAGE, NY — A legendary West Village clock and watch shop will close its doors thanks to a steep rent hike, the latest local business to fold amid spiraling real estate costs, according to a new report.

Walter's Antique Clock and Watch Repair will close this year, the blog Jeremiah's Vanishing New York reported this week. The clock and watch repair shop, located at 240 W. 10th St., has been a neighborhood staple for more than 18 years.

"I guess my business is not profitable, not profitable anymore," shop owner Walter Dikarev told Jeremiah's. "Just to survive I need to raise the prices for my customers and I do not like it."

It's unclear how much the rent has increased in recent years. Dikarev was not immediately available for comment when contacted by Patch on Tuesday.

Dikarev watch and clock repair shop is another in a string of beloved local businesses that have shuttered thanks to Manhattan's steep real estate prices. Local shops in restaurants in the West Village and throughout the city have closed the doors because of competition from online retailers and increasing expenses incurred from steep rents. Local business owners and coalitions have pleaded for more regulations on large retailers looking to move into the city, with only moderate success. Some of the Village's most beloved neighborhood spots, like the restaurants Po and French Roast, have closed this year citing rent increases.

Image credit: Ciara McCarthy / Patch