BOERUM HILL — Smith Street dive bar Angry Wade's will close down after a recent 60-percent spike in rent, the building's landlord told DNAinfo New York.
A neighborhood bar known for its laid-back character and free popcorn, Angry Wade's has occupied the red building at the corner of Smith and Butler streets for years.
But building owner Pedro Tavarez said he raised the monthly rent from $10,000 to $16,000 and the bar will soon vacate the space at 222 Smith St.
A new tenant has been lined up for the space — a bank — although Tavarez declined to provide details of the deal.
"I already have a committment," he said.
The bar remained open Monday night and Angry Wade's management did not respond to requests for comment on the closing date.
Angry Wade's has a stream of regulars that make use of its multiple televisions for game nights and cheap drinks.
Although a "for rent" sign has hung on the Smith Street building since November, the bar still welcomes patrons. The signature lion's head bust over the corner entrance has not moved.
But the growing popularity and expense of the Smith-Court street corridors has taken its toll on local small businesses.
A report last year from the Real Estate Board of New York found that Court Street has some of the priciest retail rents in the city at $162 per square foot.
Smith Street, according to the report, had an average asking rent of $121 per square foot.