CPEX's State of Brooklyn's Commercial Market
The Fulton Mall in Downtown Brooklyn and 86th Street in Bay Ridge have the most expensive commercial rents in Brooklyn, topping out at $125 a foot each. That’s the first factoid that leaps out of CPEX’s new 2010 Retail Report. Four other retail strips—Bedford Avenue in Williamsburg, 86th Street in Bensonhurst, Court Street in Downtown…
The Fulton Mall in Downtown Brooklyn and 86th Street in Bay Ridge have the most expensive commercial rents in Brooklyn, topping out at $125 a foot each. That’s the first factoid that leaps out of CPEX‘s new 2010 Retail Report. Four other retail strips—Bedford Avenue in Williamsburg, 86th Street in Bensonhurst, Court Street in Downtown Brooklyn and Montague Street in Brooklyn Heights—all have rents that reach $100 a foot. You can see all the gory details in the full report.
I don’t care if they want to open a Church of Scientology there. The point is that the property owners on Fulton Street have the right to do whatever they want with their property within the context of the law. I have never made any suggestion that there is any problem with the stores there.
As for FUREE – I do not *resent* them, I *condemn* them as disturbing civic peace by continuing this very false suggestion that Brooklyn, of all places, has some some sort of problem with racism against people of color. I condemn them for taking an extreme Marxist position on property rights that is simply unamerican and ultimately harmful to the very people they purport to help.
Being a professional in the real estate world, I decided to read this particular article because I am interested in rental trends. I tend to shy away from the obviously political posts on this site (which are many), but I find even this retail report – which necessarily includes the Fulton Mall – is not free of this relentless racial conflict. Unlike the operator of this site and most of these posters, I lived in Brooklyn when race relations were quite bad. Today, the borough is a pretty amazing place as far as people getting along, why not focus on the real problems?
Only if you assume cell phone stores and discount places are frequented only by them. You brought up FUREE- I referred to the type of stores. Fulton St. is very successful- and has been for quite sometime. Obviously you have an odd idea of what successful retail should be. And my point still stands- there have been many posts- including yours in the past- that have complained about the “kinds of stores” open on Fulton. It had nothing to do with whether or not they were successful- only that they didn’t fit a certain “aesthetic. Not upscale enough.
So let’s not play word games. You resent FUREE- which tires to help Black women become successful entrepreneurs- why anyone has a problem with that is beyond me. But you can’t seem to abide the fact they made a stand, so you condemn them lock, stock and barrel. And you wonder why I think you have issues.
bxgrl:
1. The area is not “successful” in terms of producing the maximum yield to the land. If it were, none of us would be having this discussion. While the ground floor retail is certainly successful, it says nothing about the potential of the land – which can be developed with much more than a single story retail shop.
2. “Great White Hopes” – I am unfamiliar with this term, but I certainly hope that you are not continuing this racist trolling. Anyway, I don’t even live in Brooklyn anymore. I just read this site and about FUREE when I need a chuckle. I mean seriously, there is no more hope for you racists anyway.
3. This is not what you have said previously or implied in your post. It is not the position of FUREE. The general opinion of racists in Brooklyn is that the property in the Fulton Mall should forever be reserved for the use of “people of color” (of course, colored people from Asia are not included in that characterization). FUREE explicitly states that redevelopment efforts on that street should be stopped because said “people of color” have a blood claim to that land. Are you repudiating the racist statements of FUREE?
4. No, I did not bring it up. Your post rather rather explicitly suggests that these businesses are being closed because certain people *not* of color (meaning descendants of the aboriginal inhabitants of the European and Asian continents as well as the continent of Africa north of the Sahara Desert) don’t like “people of color” (i.e. descendants of the aboriginal inhabitants of the Americas conquered by the Spanish and those from south of the Sahara Desert). This is obviously a ridiculous and hateful charge, further your attempts to obfuscate the issue speaks volume of the moral basis for continuing to stoke this racial conflict.
I continually submit that as life becomes more difficult for all of us, fanning these flames of racial conflict is simply not wise. It hasn’t even been 20 years since the crown heights riots, which occurred at a time of much greater prosperity than today.
“The pricing for each corridor provided is an estimate and a snapshot in time, based on data collected” – report
Snapshot?! I want the whole damned movie OVER time! In Hi Def!
***Bid half off peak comps***
Polemicist- it should be pointed out to you that Downtown Fulton St. is one of the most successful retail strips in the city. You’ve yowled about FUREE forever- you need to get out more, read more extensive material than blogs that cater to “Great White Hopes.”
So explain why the market economy and property rights are not in operation on Fulton St. Oh wait- let me guess. Too many people of color for you? You brought it up- just sayin’
Hmm, it’s all relative I guess. Most of the merchants I know on Vanderbilt Ave (and I know a few) wouldn’t say their rents were particularly cheap.
bxgrl:
1. We don’t “look down our noses” at these shops. We react with glee and ridicule because organizations like FUREE seem to suggest they have a permanent blood claim to property. That, and such “activists” are typically colossi with far too much time on their hands and a willingness to turn everything into a racial conflict rather than address the real reason there is limited retail in certain neighborhoods: crime and social deviancy.
2. The bigger question is: do you believe that a market economy and property rights are fundamental to the prosperity we enjoy in the United States? If the answer is “no”, then you might as well move to the other 80%+ of the world that doesn’t agree with you. As one of the few remaining nations on this earth that holds to such values, why stay?
The only stretch of Flatbush near PLG covered in the report extends from Linden Blvd to Tilden Ave., south of PLG. Part of the reason for all those vacancies on Flatbush Ave in PLG from what I understand is that most of the buildings are owned by three landlords and they ask insanely high rents, and don’t ask too many questions about a store’s business plan, finances, etc., which results in a series of short-lived, commercially unviable tenancies. A BID would be a real help here (as there is one on the stretch covered in the report), but these landlords won’t hear of it.
Flatbush from PLG throught Flatbush proper is partially covered. They have Flatbush and Church Ave highlighted along with Flatbush at the Junction. Everything else in between is pretty crappy if you’ve been by there ever. Probably 2 vacancies on every block.