With a high concentration of wealthy residents and plenty of nearby businesses, Montague Street in Brooklyn Heights should be a vibrant retail strip but it appears to be a victim of its own overinflated sense of self-worth: Eight storefronts on the five-block stretch are now vacant, victims, The Daily News reports, of too-high rents. “The common denominator is high rent,” said the Brooklyn Heights Association’s Judy Stanton. “Little businesses will come here if they think they can make a profit, but it handicaps itself with the high rent.” Recent casualties include Heights Books (which is moving to Smith Street), Blue Rose and Spicy Pickle, which by all accounts wasn’t any good anyway. Do you think landlords are going to get a clue?
Montague Street Hitting the Wall [NY Daily News]
Photo by tosca2002