for rent signs everywhere

teddyballgame · September 2005

So like a couple of months ago when I decided I wanted to move to PH, it seemed like there were so many cool little businesses that I wanted to check out. Now, it seems like I see more and more "For Rent" signs everyday. There have definitely been threads on here about Lorena's and Biscuit, and I've noticed that place Charcuterie closed as well... Is this a Ratner related series of events? Have the rents started to go up with the Nets coming to town?
Also, does anyone know what's going into any of those empty spots... I notice something is going in on the east side of vanderbilt between sterling and park, next to Muddy Waters... anyone know what it is?

I wonder if places like Burrito Bar opened with the knowledge that the Nets were on their way... it seems like kind of a pre-game post-game type hangout... I don't know, I realize the construction and all is a very long way away, but I'm just speculating.

dailyheights · September 2005

There was this a few months ago:

Medusa wrote: News Flash: Charcuterie will be moving!
According to Mike (the owner), the landlord wants to raise his rent from 3K to 10K. So Mike's moving across the street into a storefront that he owns (between the laundromat and the medical offices on the north side of Flatbush between St. Marks and 6th). According to Mike, the owner really thinks he can get 10K for the space.

Is the place still vacant??

Here's the rest of the thread talking about great food at Charcuterie:

http://www.dailyheights.com/forums/viewtopic.php?t=367

jack · September 2005

Subject: Re: "for rent" signs everywhere

The small businesses closing trend is not just in ProHo-ville. Over here in Boerum Hill and nearby on Smith Street, there's an equal percentage of 'lost venture capital dreams'.

My personal feeling is that a lot of the places are feeling the crunch of higher rent. And coupled with that are business plans that don't make enough margins to cover the rent. I have nothing personal against small boutiques, but I wonder how they can make the rent at times. Ditto with tons of restaurants that open next door to other restaurants.

Also, I do know a lot of places that sprung up after--let's say--1999 are the 'next chapter' in many ex dot-commer's lives. Sometimes there are good ideas. Other times it's just more dot-com pipe-dreams in tangible store-front form; ie: just bad business ideas with cute marketing.

sje · September 2005

I think it's a combination of stupidly high rents and, from the consumer end, people in our neighborhoods being "house poor" on top of it. There was an excellent article in sunday's times about that.

http://www.nytimes.com/2005/09/25/realestate/25sacrifice.html

It's not easy to own a small business in this town. Did you know it cost more for commercial electricity, gas and phone service? It's the same damn service as residential.

To keep things in perspective, I found out last week that my favorite wholesale fabric shop on Eighth Ave. in the city is closing because their new rent will be $35,000. A month. How on earth??? It's a small family owned shop. I hate to see any businesses close because the time, work and love that go into building one and making it function is enormous.

{I'd like to squeeze in here thanks to the wonderful local supporters who have kept my tiny shop open for almost 6 years so far. Thank you!}

anonymous · September 2005

Well, we know home heating oil is a growth business -and actually at the prices that are predicted for this winter it may become a boutique like item.

jack · September 2005

sje wrote: To keep things in perspective, I found out last week that my favorite wholesale fabric shop on Eighth Ave. in the city is closing because their new rent will be $35,000. A month. How on earth???

I think this real estate reality (surreality?) is the reason there are LOTS more street vendors and a lot more street fairs in this city. There is a demand for small business but the traditional real estate market has pushed it out onto the street... Literally...

isa · September 2005

The messed up thing is that commercial rents just keep getting higher. You might think that with all the businesses that are failing landlords would benefit from lower rents and tenants that stay in business.

sje · September 2005

The smart ones do, Isa. But they're the minority, in my experience.

moufaisbad · September 2005

there are for rent signs everywhere.
brooklyn is the least of it.
i have lived in NYC for 15 years (in brooklyn for 13 of the 15) and i have never seen so many for rent signs.
Manhattan seems worse than anywhere else.
i have been seeing 'for rent' signs in neighborhoods that have never had signs.
i think people are just in flux now.
manhattan is going to get the worst of it.
thats my 2 cents.

alafairnadia · September 2005

it's totally absurd. about four years ago I was working with a woman to open a shop. we wanted to do an upscale/upmarket young plus-size boutique that included some amount of consignment/vintage and some amount of new/trend designers. we looked all over the place for space and, unless we wanted something the size of a walk-in closet (which, when you're marketing to plus-sizes, is insanely counter intuitive), we were looking at $8k+ rents. nuts. clearly, the entire idea tanked.

dailyheights · September 2005

What about 5th Ave in Park Slope? According to the New York Times, commercial rents there are about half what you would pay on 7th.

sje · September 2005

5th ave stopped being viable for small independent businesses about 3-4 years ago. Before I found my current location {with an excellent landlord, BTW}, I searched all over 5th and environs for *2 solid years*. Landlords are on crack. If the rent's too high, NO business can make it. You simply can't rustle up your monthly nut and make a living wage. Luckily for me, my landlord understands that if I close, he gets no rent.

for rent signs everywhere

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