We've been waiting for this day: Libation is closing! Libation was, of course, the first official landmark of douchebaggery in the LES, spearheading a (and we use this term loosely) movement to class up the joint. Well the tip of the knife has broken, does this mean the uptown, velvet rope crowd "lost"? Doubtful, as we're sure an equally horrific quadruple-level, overpriced club will open in its place. Unless, of course, Bowery Presents snatches it up in its recent shopping spree.
If that doesn't happen, we hope that Curbed commenter, Matt, is correct in saying: "Maybe the Creperie next door will take over and open a massive crepe making complex." Now that, would be something.