Slippery Slope: Two Down on 7th Ave.
The big news in Slopeland today is that Tea Lounge is closing its location on 7th Avenue. The coffeehouse is calling it quits because its landlord wants to double its rent, according to a story in the Brooklyn Paper. Tea Lounge opened on 7th Ave. and 10th Street in 2001. The business isn’t the only…
The big news in Slopeland today is that Tea Lounge is closing its location on 7th Avenue. The coffeehouse is calling it quits because its landlord wants to double its rent, according to a story in the Brooklyn Paper. Tea Lounge opened on 7th Ave. and 10th Street in 2001. The business isn’t the only one saying sayanora to the South Slope: five blocks down, the crafts store Greenjeans is also clearing out. According to a post on the shop’s blog, the sustainable-wares store is “in the process of looking for a new location that will provide us with more space, more foot traffic, and greater accessibility.” Greenjeans has occupied a storefront on 7th Avenue between 15th and 16th streets for a little over three years, and it’s going to keep selling stuff through its website and at the Flea until it finds a new bricks-and-mortar location.
Tea Lounge to close in July! [Brooklyn Paper]
Greenjeans is Moving [Greenjeans]
Photo of Tea Lounge from Tea Muse.
Starbucks,
Ozzie’s
Cousin John’s
Ct. Muffin
That chocolate place
Starbucks connecticut muffin ozzies
Name the 20 coffeshops.
Or name at least three beside Tea Lounge.
Halcyon served undrinkable coffee in an insufferably pretentious atmosphere good riddance
this corner will sit vacant for a year.
mark my words.
Two coffee shops on seventh ave? You’re kidding right? There’s at least twenty.
I agree 1:18! Short-sighted landlords are ruining NYC. Halcyon closed on Smith because the landlord doubled the rent, now there is some crappy chain burrito-ville in the spot. When we complain about the loss of culture in NYC nabes look to the greedy landlords. I’m sure their costs didn’t double in 5 years, they are just trying to wring as much $$ as possible out of the space. Nothing wrong with capitalism, but there is something wrong with cutting off your nose (doubling the rent on viable small businesses) to spite your face (sitting on a vacant building waiting for some deep-pocketed retailer like Duane Reade or Starbucks to rescue you from yourself) especially in this crappy economy.
Please name the 20 coffee shops on 7th. I can think of three, and one of them, Tea Lounge, is closing. Leaving two.
Does it matter? Of course it does. Access to amenities is a main driver of real estate prices. Or so I hear.
1:11 – I can’t speak for the other landlords. The only way I can explain why they would rather leave a place vacant is if they got a large tax advantage. If they own lots of property they can say that they are loosing potential market rent for the store and write off the loss.
I just own one building and could not afford to keep it vacant for long. I would try my best to get a new contract signed before the lease would expire or leave the current tenant with a below-market rent (short lease).
I agree with you that the landlords that let their properties sit vacant are causing more harm to the area then good.
As far as corcoran saying I can get $75/sq foot goes…I am not holding my breath. I am willing to take alot less then that if the new buisness will add a unique and desirable addition to the area. But I will certainly, under no condition, rent the place again for $15/sq foot!! Maintaining a building is a lot more expensive now then it was in 1997!!!