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August 5, 2008

Streetlevel: Chase Gobbles Up Myrtle Corner

402-Myrtle-Avenue-0808.jpg
Plywood went up in front of the Gourmet Kitchen at 402 Myrtle Avenue. And the Community Counseling space at 406 Myrtle. What's happening? They're being replaced by a new Chase branch. A few years ago when Myrtle Avenue was still known as Murder Avenue, such a tenant would have been welcomed with open arms. Now, with a variety of cool mom-and-pop stores and restaurants populating the stretch, it's hard to get excited about this. GMAP




Posted by Brownstoner at 2:01 PM | Comments (17)
Categories: Clinton Hill, Streetlevel

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Comments

Damn, I heard rumors it was going to be the new food co-op.

Posted by: chnewbie at August 5, 2008 2:23 PM

Even if someone is alright with this corner becoming a bank branch, it is a shame that a new building wasn't constructed first.

Posted by: altervoce at August 5, 2008 2:39 PM

I wish this was happening on Fulton... for selfish reasons.

Posted by: Heather at August 5, 2008 3:13 PM

chnewbie, stinks. The deal with setting up something like a food co-op is you really need space and in today's real estate market you'll really need someone who's an "angel" and willing to let the business grow and thrive.

With the PS food co-op, they bought their buildings before the boom. Best move ever.

On topic, Myrtle Avenue is still not too great. Not as bad as the "Murder Avenue" days, but still open air dealing and lots of fronts still fronting.

Posted by: Jack at August 5, 2008 3:19 PM

I think this is a great thing for the neighborhood. The only Chase branch in the area is way over on Flushing, which isn't very convenient.

And by the way, I heard the Co-op was looking at spaces closer to the public transportation on Fulton.

Posted by: Vanderman at August 5, 2008 3:37 PM

I wouldn't get excited, but it's pretty good business to have on your main shopping/retaurant street as opposed to many other things.

Posted by: jawbreaker at August 5, 2008 4:56 PM

I guess it is unlikely that someone would rob all the banks on Myrtle at once, so its a form of security for the bank.

I agree it is a shame all these one story buildings on Myrtle are getting new tenants without tearing down and building to the new zoning first.

Posted by: Karka at August 5, 2008 5:06 PM

Not very exciting. Chase wasnt desperately needed since we already have Citi and Bank America, and recently added Carver, but I guess Chase's addition will make chase customers happy. I know one in my building who will be overjoyed.

Its a shame we had to lose the diner to get another bank, now that I think of it.

Posted by: Guvna at August 5, 2008 5:29 PM

I know people always bemoan new bank branches out of habit, but if there is no Chase branch nearby, then isn't this a good thing?

People say all the time how these neighborhoods are overly banked, and I just don't agree (I will agree that much of Manhattan has way too many of the same banks within close proximity to one another).

One of each branch (or even 2) in a neighborhood is not a lot. I am still one of those people who seek out my own branch to save on atm fees, and there is only one Commerce in Park Slope on 5th Avenue. Quite a hike from up near the park in the North Slope, but if another Commerce opened on 7th, people would be outraged that another bank opened (probably everyone but those of us who bank at Commerce, that is).

Once it gets to 2 or 3 of the same branch in the same neighborhood, fine. Complain away...

But one of each?

Posted by: 11217 at August 5, 2008 5:48 PM

ho hum, another bank. I guess it's good to have variety to avoid ATM fees, but there certainly could have been more exciting options.

Posted by: greenebee at August 5, 2008 5:54 PM

11217, I hear you, but I think the loss of the country diner hurt more than getting the new chase helped. There is already a chase on washington and flushing, and several other banks on myrtle as noted.

Posted by: Guvna at August 5, 2008 5:57 PM

Aren't there plenty of other storefronts available for rent on Myrtle Avenue?

I TOTALLY understand the loss of the diner, but there can be other options in the other spaces left for rent...

Posted by: 11217 at August 5, 2008 6:06 PM

Banks on corners. I guess Myrtle will remain a "lively" street despite the number of banks on corners, I mean, count 'em - Citi, Carver, Emigrant, now this. But I think corners are better for restaurants, stores, fruit stands, or similar uses that bring life to the street. No more after this please.

Posted by: architect66 at August 5, 2008 6:25 PM

The last time I walked by this location, both it and the one around the corner on Vanderbilt had stop work orders posted. The corner building is being extended upward. The first steel beams had been instered through the roof before the stop work order was posted.

Posted by: clyde at August 5, 2008 8:05 PM

It has been proposed that banks should go on second floors, cause people will still patronize them despite the location. But that's the opinion of people working to save mom and pop retail; banks always, always, always want to be on a corner.

Posted by: altervoce at August 6, 2008 10:43 AM

I patronize the Citibank on Myrtle as a business owner. It is always overcrowded. I think the neighborhood does need more banks, especially a big one like Chase. Now maybe I won't have to wait 45 minutes for a teller at Citi.

Posted by: nady at August 6, 2008 4:28 PM

It seems many people on this board are not aware of Brooklyn Cooperative. We have a new branch office located at 750 Myrtle Ave (corner of Nostrand). As the only community development credit union serving Brooklyn, we are committed to serving individuals and businesses in Bed-Stuy and Bushwick. Now more than ever, individuals and businesses are hearing "thanks, but no thanks" from their banks when it comes to getting financing. As a local, community-oriented financial institution, all of our lending is local, so you know that your deposit dollars are going to help start businesses and help put families into new homes. So while it is a bummer that the food coop isn't going to be setting up shop on Myrtle, I hope that some folks can rejoice that our coop is here to stay.

www.brooklyn.coop

Posted by: brooklyncoop at November 7, 2008 1:43 PM

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