Commercial Real Estate

The final days of 2008 were fittingly grim for old-school Coney Islanders and the many who share their nostalgia and distaste for glossy change. In the days leading up to Christmas, For Lease signs were slapped up on such boardwalk mainstays as Nathan’s and Ruby’s Bar & Grill by Thor Equities, which has spent the past year trying to convince the residents and the Bloomberg administration of its vision of high-rise condos and hotels for the economically-challenged area. According to one business owner on the strip, Thor has been evicting long-time tenants, tripling rents and, in the case of Lola Staar, refusing to even discuss new leases. (However, Gowanus Lounge says that Thor is beginning to renegotiate with shop owners.) Not to be deterred, Ruby’s reportedly was open for its annual New Year’s Day party to coincide with yesterday’s Polar Bear swim.
Coney Island’s Ruby’s, Nathan’s For Rent [Gothamist]
CI Boardwalk Businesses Surprised by ‘For Lease’ Signs [Brooklyn Eagle]
Boutique Shuttered for Criticizing Coney Landowner [Brooklyn Paper]
Coney Roundup: Ruby’s Will Party… [Gowanus Lounge]
Residents Brace for a New Coney Island [NY Post]
Photo by lornagirl on flickr via Gothamist