774 Nostrand (near Sterling), I am watching you

whynot_31

you are across from the Met.

You might be presently in use, but you seem to be for lease: http://www.masseyknakal.com/listingimages/setup/pdf/774_Nostrand_Ave_Setup.pdf

...and I am not alone.

clayfilms

I think I know what it is going to be

whynot_31

Clay-

If you tell us what you have heard (or surmised), we will not hold it against you if it ends up being something different.

Don't tease!

crownheightster

While I am pleased that the Nostrand re-vitalization seems to actually be happening, one thing does bother me. When Connecticut Muffin came it, it moved into the Barbara's Flowers space and the florist moved just off the ave. When Lula Bagel came, it moved into the Feeding Tree space, which was pretty good food. Now the Kozin legal office is up to be changed out. Why is it that it is the established, decent businesses that are being moved up and out, and not the sketchy botanica/religious objects stores or the storefront that seems to be piled with junk and no discernible merchandise? Am I crazy, or have other people noticed this? Maybe the landlords of the good businesses are just more on the ball.

whynot_31

I have noticed that as well.

My theory is that the junky stores have bad mechanicals (plumbing, heat, electrical, roof) and that so much investment would be required, that the "class A" businesses don't bother. They want something that is almost move in ready, and a LL that has a proven history of keeping "similar grade" tenants happy.

The owners of the buildings with the broken down stores have no such reputations, and (likely) none of the capital to do the work required to do the upgrades.

Another possibility is that the owners of the junky stores might be the exact same people that own the overall building, and that they purchased it in 1988.

jack krohn

It's probably a matter of timing (i.e. when the leases expire). I'm sure that, with more time, the other businesses you mention will also be displaced.

glasshalffull

In the case of Connecticut Muffin, the landlord is the owner of the florist shop. I think he saw it as an opportunity to update his shop and move around the corner in to the other part of the space he owns while leasing the corner space to a store that would be part of positive change for the neighborhood.

homeowner

Also, some of those "sketchy" businesses, seem to pay the rent every month in cash, and are willing accept rent increases without complaints. Both of those things are often attractive to some landlords.

crownheightster

All of those theories make sense. Thank you! I don't know anything about commercial real estate, and never really put together the reality of good/bad mechanicals and how that affects the attraction of current/future tenants. I wonder if there is some kind of fund to help landlord update those kind of problems. Is that what BIDs do?

I am really happy to learn about the history of the CT Muffin/Barbara's Flowers space. I love that florist, and I am glad to hear that their move was proactively arranged by the owner-landlord, who is hopefully profiting and doing well.

whynot_31

homeowner said:

Also, some of those "sketchy" businesses, seem to pay the rent every month in cash, and are willing accept rent increases without complaints. Both of those things are often attractive to some landlords.

Yes, as result of the police constantly "moving along" the enterprising young men who sell miniature plastic bags on the sidewalks, their counterparts who operate out of storefronts seem to thrive.

It might take a while and might require a lot of teamwork, but eventually such storefronts can become available to businesses whom collect sales taxes.

http://www.brooklynian.com/forums/topic/a-grilled-cheese-restaurant-for-lincoln-and-franklin

Success is about hard work, patience and luck.

whynot_31

Aug 19, 2013: The storefront is still available for rent.

http://www.masseyknakal.com/listings/detail.aspx?lst=22104

whynot_31

Sept 13: Still listed as being available