Greedy Landlords Causing Storefronts to Sit Empty?
The Daily News has a story about how the one-two punch of unrealistically high asking rents and the recession has resulted in a number of empty storefronts in brownstone Brooklyn. Cases in point, where retail spaces are still empty after rent increases: the dry cleaner on Court and Baltic that had to vacate after the…
The Daily News has a story about how the one-two punch of unrealistically high asking rents and the recession has resulted in a number of empty storefronts in brownstone Brooklyn. Cases in point, where retail spaces are still empty after rent increases: the dry cleaner on Court and Baltic that had to vacate after the landlord hiked the rent from $2,500 to $6,500 a month; Royal Video, above, which left its old Flatbush Avenue spot for a smaller one after the landlord was said to be asking $10,000 a month for the space; and a Myrtle Avenue shoe repair that shut down this fall. It seems, however, that while there are certainly examples of greedy/delusional landlords to be found, there aren’t an overwhelming number of fresh vacancies on the main retail drags in Cobble Hill, Prospect Heights, and Park Slope—that these guys tend to be the exception, rather than the rule. Thoughts?
Brooklyn Storefronts Empty [NY Daily News]
Photo by plangently.
In my view a certain turnover in commercial tenants is a good thing. Look at that antiquated storefront. I think it was time for it to close. We are in the tail end of a major recession so naturaly there will be vacancies as it is a very challenging time to start a new business. Commerical rent control would be a disaster. It would allow second-rate and downright awful shops and restaurants to stay open simply because they have cheap rent. It would be a sorry thing especially for those of you who like to dine out and patronize the latest and trendiest bars and restaurants.
2 storefronts that have seemed to sit vacant long time on Smith St. are old Banania restaurant at Douglass and also corner of Smith/Baltic(last tenant was Jessica’s ). Don’t see for rent signs and don’t see any activity. Package/shipping store recently closed on Smith near Bergen.
Expert…are you interested in pursuing something???
i am going to repost WITHOUT all the typos (i hope)
i meant to send this in as a tip but might as well post it here since i didn’t take a pic anyway, but that giant space on court and douglas is finally taking shape. the former home court furniture space (next door to its current smaller space) is going to be an……
upscale yuppie grocery store called union market. signage in the windows indicate organic produce, prepared foods, baked goods, etc. no ETA on when they will open.
(also as a separate tip, they finally took down the scaffolding on court between kane and degraw, the two townhouses that were worked on look fantastic. definitely picture worthy. it is on the west side of street, maybe 1/3 of the way up from degraw to kane, copper drainage pipe marks the work).
“and apple does no such thing”
You’ve got the lock on Apple’s charitable giving then have you?
Expert…the “prime” space in Bed Stuy is on Lewis Ave between Decatur & Halsey. There are three empty storefrons on the block between Macon & Halsey.
There are also two prime spots available on Stuyvesant…the old Solomon’s Porch on the corner of Halsey and the building on the corner of Macon & Stuyvesant. The former has legacy DOH issues and the latter needs an interior.
I think all of them can be had for around $2,500 per month and they are large…1,000-1,500 sq. ft.
There’s also a smaller space caddy corner and a few doors east of Saraghina on Halsey.
so far no city has tried commercial rent control. The reason for that is simple. It is doubtful that it would be constitutional. While sometimes zoning has been used to try to encourage certain uses, commercial rent control would probably run afoul of the 5th amendment(taking property without compensation). Its true that the courts have allowed residential rent control- mostly in an declared emergency- you will have a real hard time with the current US Supreme Court and commercial rent control.
and finally, I always find it curious that those who rail against the use of eminent domain for private purposes would also be quick to call for commercial rent control which when you look at it, is the same thing.
quote:
Given that the Salvation Army is homophobic and discriminatory and Apple is not, I can only hope that Apple displaces that Salvation Army store.
who cares. the salvation army helps a TON of needy people and apple does no such thing. and even if they were once a homohobic organization (doesnt someone a while back here, i think bxgirl actually, refure this claim about discriminatory practices?) one could also argue that the apple stores have discriminatory hiring practices as well, but i won’t go there right now.
*rob*
http://www.vespaproperties.com/listing_printable.php?id=1017&pt=com
I think some blame should be put on the realtors who encourage such huge rent increases.
The space needs a complete gut. Then do the math on the income required to pay the rent, utilities, employee salaries and benefits. Not many businesses could pull it off in this location, in this environment.