Gothamist received this note today:

So in a bit of bad news, it appears the boys and I are not going to get the bar. There are a couple of factors that led to this, but simply put; A group of well-meaning but naive friends who get some money together to buy a bar and turn it into a performance space is no match for a group of well-established and experienced business's with deep pockets. There was nothing underhanded or anything like that, there was just no way we could match the other offer without enormous risk to us so that be that. We're all very disappointed, but we will regroup and keep on looking until we are able to find something somewhere. As God is my witness, you will never go hungry again!

Sorry again,
David Cross, et all.

Bummer! We were looking forward to Cross & Co's bar, which would have brought some great acts to Orchard Street.

In other news: Jimmy Fallon's bar is up and running.