If you’re walking down 7th Avenue in Park Slope, you might experience sensations of dizziness or disorientation. This is due to the massive turnover along this commercial drag recently: The Brooklyn Paper notes that the main drag from Flatbush Avenue to 15th Street has 27 storefronts either empty or in transition. Since rents are going down and lower rents favor restaurants, says the article, this means more eateries are on their way in, changing the character of the neighborhood. Some residents bemoan these changes, while others are adding menus to their take-out drawers, but Steve Sommers, a local broker, notes that previously higher rents were too high. It was a bubble, but now all the hot air is getting let out, he told the Paper.
Seven Up or Down? [Brooklyn Paper]
Photo by Raphael Brion