Retailers Near Barclays See Mixed Results

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Barclays has increased business at nearby restaurants and bars during events nights, but not so much at other shops, The Wall Street Journal found. Concert goers are bigger spenders than sports fans. “How much boils down to whether the main act is a Barbra Streisand concert or a Brooklyn Nets basketball game. The bottom line: Streisand fans are much heavier spenders than Nets fans,” said the Journal. But even if a place is packed, that doesn’t necessarily mean higher receipts for the business owner. When there’s an event on at Barclays, “my customers who would normally have come in will look and say, ‘It’s too busy in there, let’s find some other place,’” said Andre Jordan, a co-owner of German beer hall Die Koelner Bierhalle. The area is still changing, but vacancy rates declined this year on the blocks closest to the stadium, said the Journal. The retailer study was done by Forest City Ratner.
Barclays Arena Gives Some Assist to Retailers [WSJ]

17 Comment

  • The article only mentions restaurants and bars, no other merchants. Everyone that I know that owns a business in the area has either seen a decline in sales or has stayed flat since the arena opened.
    Though I can’t speak to how the huge box stores in the Atlantic Center are faring.

  • who goes shopping before a concert/sporting event?

  • East New York

    “On event nights, “my customers who would normally have come in will look
    and say, ‘It’s too busy in there, let’s find some other place,’” Mr.
    Jordan says.”

    **

    I’d think he’d be a bit more enthused about a full house. You know, being the owner. But that’s just me.

  • I find it amusing (but not surprising) that brownstoner chose to highlight this article (showing not necessarily great news) about Barclays Center; but only put a link in for the NYT article that talks about the remarkable success of Barclay’s Center in discouraging event goers from driving.

    • East New York

      Yeah, how about that. As you said, not surprising.

    • Cate

      The reason for that is because we are a real estate site and this story is about how Barclays affects the price of commercial real estate.

      • And the fact that Barclays didnt result in massive traffic jams, endless cars circling for parking and horrible impact on quality of life for residents (as widly predicted here) is not a real estate story?? Have we forgotten the term AY-Effect so quickly – the idea that the traffic, crowds and congestion brought by Barclays would kill RE valuations in the area???

        Cate, maybe its unintentional but the choice of stories highlighted (esp around AY) is decidedly negative.

      • East New York

        OK, if you say so. Still I recall this blog taking a position of concern regarding an increase in car traffic in the area as a result of the arena. And don’t traffic patterns impact real estate to some degree? That explanation doesn’t wash, Cate.

  • Just wondering how many of these business opposed AY

  • no surprise at all we knew this was coming this way
    by the way, whole area will be retail transformed over the next several, just watch and Shake paid a record BK rent, over 200

  • NeoGrec

    The impact is super, super local. Over on Vanderbilt Ave, two restaurants hoping to profit from the arena are already out of business. People won’t walk that far — or aren’t familiar enough with the area to even know where Vanderbilt is: “On Monday, the crowd in front of the arena before the McCartney concert had varying plans on what to do after the show. Some planned to get on the train and go home. Others wanted to explore. “I would have thought there would be more in this area,” said Anthony Accetta, a service technician from Bethpage, N.Y., who was at the concert with his wife, Barbara. The two ended up settling on a solution that would satisfy both neighborhood and arena businesses: They bought sodas and pretzels inside Barclays and went to Gino’s Pizza on Flatbush for dinner.”

  • 1) The arena isn’t going anywhere. Get over it.

    2) There will be between 10,000 and 15,000 people coming and going over 250 times per year. It is not possible that a traffic flow of that magnitude will not positively impact the RIGHT KIND OF BUSINESSES FOR THAT LOCATION.

    3) Perhaps whysenhymer could be a bit more factual beyond reciting his/her folksy anecdotal “data”. He/she makes it sound like they have personal knowledge of extensive sales data for the surrounding businesses.

    4) We are still in the infancy of this dynamic. There is much left to learn and pontification at this juncture is a fool’s game. Of course, that makes this a perfect discussion topic on the Brownstoner blogs.

  • The reason why many businesses aren’t doing as well is because although AY is on top of a transit hub, its still in a heavily residential area. The reason why the businesses around MSG do so well is because its in a heavily commercial area. Most of the people that attend events in MSG are already in Manhattan before the event (primarily for work). That’s not the case for AY. For most, AY is the only destination; for most patrons its go there and then go home.