Times Square's Langan's Irish Pub to close after 25 years

- Langan's Irish Pub, located just off Times Square, has been around for 25 years. When it opened its doors, the rent was $16,000 per month. But the pub is closing after rent grew to $53,000 per month.

The history of the place is splashed all over the walls. Photographs of all sorts of celebrities, many who have stopped by for a pint.

The back story of the pub is that for two years the owners have been fighting the lease in court. They are finally throwing in the towel. General Manager Terri Rickwell said a lot of patrons thought of the pub as an oasis in Times Square.

Conrad Putzier is a reporter with real estate magazine The Real Deal. He explained that retail real estate has been booming and that investment funds have been selling properties for huge sums of money.

But for those who work and stop in at Langan's Irish Pub, it is like a home away from home and the closing is bittersweet.

The last day to come in for a pint and a bite is January 17.

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