Organizers of the comedy series said it, too, would be shutting down – a natural conclusion as its hometown Brooklyn venue closes its doors for good.

While it lasted, performing at the venue was a milestone for many local artists. Comic Caitlin Peluffo told Gothamist that a set she recorded at “Comedy at the Knit” landed her a spot on The Late Show with Stephen Colbert.

“They cultivated such an atmosphere and such a vibe and such a fan base that really don't think it's going to … lightning can't strike twice, you know?” Peluffo said. “So I think it's a shame that it's ending. But you know, it's nice for something else to develop.”

For fans of the Knitting Factory, those new developments will come sometime in 2023, Margolis said, adding that it would be designed as a throwback to the original space and include a partnership with another company that will run the day-to-day operations, and potentially food service.