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.)
You might also like
What do you think? Tell us below!
Send tips and cat photos to:
Editor: Marley Lynch (@marleyasinbob)
See more recent blog posts
Exclusive: The HBO Bryant Park Summer Film Festival reveals their 2015 lineup!
12 reasons staying in NYC during Memorial Day Weekend is totally awesome
24 super-cool things to do this weekend
12 things real New Yorkers don't know but are too afraid to ask
52 wonderful things happening in New York this June