After six years on Broadway, Saratoga Needle Arts owner Cindy Spence is packing up her yarn and passing the skein, as it were, to a new owner.

Today the knitting and craft store will conduct its final day of business.

Pending the sale she expects to close at the end of the week, Spence kept mum about her successor, but said the deal will result in a similar knitting store, with a different name and at a different downtown location. The agreement allows Spence to stay on as a consultant for the first few months.

“If I stayed, the (rent) would be going up a lot,” Spence said Thursday. “I couldn’t make another commitment to the lease. It was a really hard decision because I absolutely love it here. It’s really become a community.”

Spence’s new job as an apartment building manager in Greenwich and Schuylerville will allow her to spend more time on her sheep farm in Hebron, a few miles east of Fort Edward near the Vermont border.

The space at 494 Broadway, in the building owned by Saratoga Historic Properties, is planned to open as a women’s shoe boutique called Stella’s of Saratoga in March, the store’s future manager, Erica McDonald, said Sunday. It will be an adjunct of Violet’s of Saratoga (482 Broadway), owned by Laura Farrar.