Blue Marble Flagship Store To Close
The rising rents of Atlantic Avenue have claimed another victim: Blue Marble Ice Cream, whose flagship store opened at 420 Atlantic Avenue back in 2007, will be moving out in the coming weeks, a result of the landlord’s efforts to raise the rent. “We’re very sad to leave the neighborhood, especially since this was shop…
The rising rents of Atlantic Avenue have claimed another victim: Blue Marble Ice Cream, whose flagship store opened at 420 Atlantic Avenue back in 2007, will be moving out in the coming weeks, a result of the landlord’s efforts to raise the rent. “We’re very sad to leave the neighborhood, especially since this was shop our ‘first-born,'” said founder Alexis Miesen in an email, “but we were left with no alternative.” Ice cream fanatics need not totally despair though: Blue Marble’s other stores on Court and Underhill are going strong—and you can always get a scoop at The Flea on Saturdays! You can see the $3,500-a-month listing for the new space here, though, from what we hear, 900 square feet might be overstating the case a bit.
Broklynnative…so that eqipment was supplied with the space?? Usually it is not but it would have saved the store owner a huge expense, so that would be different.
Dave, I was thinking more ice cream truck, or booth at the Flea, not an internet ice cream business.
Native, I only said the landlord looks like a fool because now he/she may have nothing. There are a lot of empty stores on Atlantic. It may be transitioning into the next West Broadway, ala Soho, but I would think getting what is, or was, market rent at the time of the original lease, for the foreseeable future would be better than taking the chance that you could end up like so many other empty spaces, until that West Broadway moment arrives, if ever. I guess we’ll see.
No, dh. It’s not a commercial lease then. commercial leases have much different terms than just monthly rent…including partial payments of taxes and water usage. You also don’t negotiate a commercial lease without a lawyer. If you do, you either have a LOT of experience doing so or you are a fool.
Actually, now that I think about it, I think it was just the equipment, the freezers and refrigerators etc., that he had to personally guarantee, not the lease.
is it common to have personal guarantees on commercial leases? seems no one would ever open anything since the risk would far outweigh any potential return
Speaking vacancies and rent hikes, why has the Tavern on Dean (corner of Dean and Underhill0 not been leased to a new tenant? The LL did not renew the lease for the successful neighborhood restaurant/bar, and now it sits vacant with a sign in the window.
I had a friend who once rented a retail space in the city. He had to put down a personal guarantee on both the space and the equipment. It was terrible, his cafe didn’t last long, and he spent a few years paying back his creditors.
M4l, all the leases I was offered for butternut were “commercial leases” If it has a personal guarantee it’s not a commercial lease. No one, given proper legal advice, signs a personal guarantee on a commercial lease. There may be a “Good Guy” clause but that’s different. It’s the primary reason that you structure a business as a LLC.
Based on the # of vacancies on Atlantic, the place will likely remain vacancy – one advantage this LL has over many other vacancies is he has a totally fixed up store to rent….courtesy of a short-sited tenant.