Retailers may be pushed out thanks to the Barclays Center
Surprise, surprise: Shops in the neighborhoods surrounding the arena have fallen victim to skyrocketing store rents.
Mon Aug 26 2013
Photograph: Jon Klemm
In today's least surprising news, rents are rising (and rising, and rising) near the Barclays Center, and Prospect Heights and Park Slope retailers are starting to worry about getting pushed out. Crain's New York noted yesterday that landlords near the contentious arena, which opened last year, are taking advantage of the resultant foot-traffic influx, and store rents have skyrocketed.
One Park Slope café, the Chocolate Room, saw a massive increase of rent for its Fifth Avenue space. Owner Jon Josepher says business hasn't increased enough to afford $13,500 a month, so he's on the hunt for a new location. "My numbers are flat right now from a year ago," he told Crain's. "It's not like thousands of people are out looking to spend their money." (That aligns with the results of a survey published in The Wall Street Journal in June, which looked at how area businesses were affected by the venue's debut.)
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Editor: Marley Lynch (@marleyasinbob)