Author Topic: How can businesses afford the rent on 37th Ave?  (Read 25789 times)

Offline jadasie

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Re: How can businesses afford the rent on 37th Ave?
« Reply #45 on: August 30, 2009, 09:56:47 PM »
Madalyn,

Perhaps money laundering is a big problem in the area. Certainly many people on this forum have speculated as much. And perhaps it's for this reason that so few "really fine eating establishments" have opened in the area. But then are we to believe that money laundering is unique to Jackson Heights? Why don't Astoria, Sunnyside, and Forest Hills, which all boast equally exorbitant commercial rents, seem to suffer from this problem?

If it's true that many of the businesses in the area are fronts, then an investigation is demanded. But I have another theory. I suspect that the lack of trendier restaurants in JH reflects the neighborhood's lack of trendier, i.e., less affluent, upwardly-mobile, demographics in the area. This isn't to say there hasn't been an influx of professionals moving into the area. But Jackson Heights is a largely cooperative neighborhood, meaning long-time residents can't simply be priced out of their homes. And these long-time residents might like their Columbian and Mexican and south-east Asian restaurants. Enough, perhaps, to keep them operating legitimately.

Or is there concrete evidence of serious mischief?

Offline madalyn

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Re: How can businesses afford the rent on 37th Ave?
« Reply #46 on: August 30, 2009, 10:14:15 PM »
I disagree with the demographics theory.  All types of people from all social strata recognize and patronize establishments that serve delicious, high quality food.  Have you been to Cannelle Patisserie?  There is definitely a market here for good quality eating and shopping establishments.  If I had venture capital, I would be the first one to open a place and prove my point.

Over the years, I have been doing my own little investigation about businesses around here.  I am not going to name any particular establishments because I have no proof, but I see several businesses, even right outside my window, that hardly have any customers - ever - and whose proprietors don't seem much interested in increasing the prospects of improving traffic into their little stores.   They're not difficult to find, you just have to pay attention.

Now why this problem should be more prevalent here in Jackson Heights is the great mystery that many of us are wondering about. 

Offline jadasie

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Re: How can businesses afford the rent on 37th Ave?
« Reply #47 on: August 30, 2009, 10:31:56 PM »
I'm not denying the possibility of widespread money laundering by proprietors and landlords in the area. And I am the first one to argue against the idea that only affluent whites benefit and appreciate fine fare, bookstores, and well-stitched garments. I was only coming up with a theory as to why certain restaurants can keep from shuttering when it would seem unfathomable in any other neighborhood.

Offline madalyn

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Re: How can businesses afford the rent on 37th Ave?
« Reply #48 on: August 31, 2009, 06:46:02 AM »
Well, there's definitely a big market for mediocre food too...you never see a Burger King or Mc Donalds go out of business for lack of customers.

Offline Mike V

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Re: How can businesses afford the rent on 37th Ave?
« Reply #49 on: September 01, 2009, 09:15:41 AM »
Yesterday, I was in the Furniture store thats going out of business near Trade Fair and noticed they're putting up shelving in the rear.  I asked the salesperson who the next occupant would be and she replied, "a 99 Cent Store".  This is directly across the street from a 99 Cent Store that I frequent between H&R Block & Elmhurst Pizza.   

Offline madalyn

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Re: How can businesses afford the rent on 37th Ave?
« Reply #50 on: September 01, 2009, 09:40:17 AM »
Seems like we have not yet reached a saturation point for cheap crap from China.

Offline alexn

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Re: How can businesses afford the rent on 37th Ave?
« Reply #51 on: October 07, 2009, 01:58:36 PM »
I wish there was more store diversity instead of the thousands of beauty salons and 99 cents stores.  One dollar store closes and another replaces it? 
These stores are either FRONTS or someone has a hook up with the rent control committee. I don't know how these cheap 99 cent stores stay alive.
My Jackson Heights wish list on 37th ave:
1. Cool Trendy Wine & Cheese Bar
2. Bring back the Pubs maybe even some world class beer garden.
3. Book stores (Barnes & Nobles)
4. Cafes with outdoor seating
5. Murray's Cheese
6. Clean up & renovate the movie theatre on 82nd street.  (Im afraid to even go inside that 1970's crack den)

Best Wishes,
Alex
www.nantesphotography.com
Nantes Photography
"Capturing the Moment"

Offline dssjh

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Re: How can businesses afford the rent on 37th Ave?
« Reply #52 on: October 07, 2009, 03:05:10 PM »
a book store would be awesome.

as far as the rest, try to take an honest look around. when you eliminate 90 percent of the neighbors as potential clients, it's hard to make a living off half of the remaining 10 percent. i doubt that many south indian families, latin teenagers, eastern european ladies or elderly new yorkers would spend much time in a trendy wine and cheese bar.

this board is not representative of jackson heights. i have lived here for 15 years and while i would go to one of those from time to time, the vast -- VAST -- majority of my friends in the neighborhood would not and the rent, as we discussed here, is so so high that trying to do so on a major thoroughfare would make it silly to sink big bucks into one.

i lived in greenpoint in the mid 80s and saw attempts to get all fancy and -- in the vernacular of the time -- yuppie fail miserably. same thing in ditmas park circa 1989. the thing that's different here is that jackson hts is solidly middle class and the residents cannot be thrown out as easily as they were in those neighborhoods, making it harder to homogenize it into some sort of little piece of a monochromatic nyc where everyone is the same.

sorry to go off, but it really strikes me that so so so so so many people move into this neighborhood for what it is, then set about trying to make it what it is not --- namely the neighborhood they just got priced out of by habitues of trendy wine and cheese bars.

Offline alexn

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Re: How can businesses afford the rent on 37th Ave?
« Reply #53 on: October 07, 2009, 03:22:50 PM »
I know man..I know!  You made a great point.  However, that's just my wish list. 
I lived here on and off for the past 30 years and saw all sorts of changes. I just moverd back two years ago and I guess my hopes would be that one day I would see less JUNKY stores and more QUALITY stores. A book store would be fantastic! Maybe a Strands  :)

Thanks for the reply - Have a great day!

AN
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"Capturing the Moment"

Offline bellabella

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Re: How can businesses afford the rent on 37th Ave?
« Reply #54 on: October 07, 2009, 06:19:33 PM »
a book store would be awesome.

as far as the rest, try to take an honest look around. when you eliminate 90 percent of the neighbors as potential clients, it's hard to make a living off half of the remaining 10 percent. i doubt that many south indian families, latin teenagers, eastern european ladies or elderly new yorkers would spend much time in a trendy wine and cheese bar.

I've lived in JH for much longer than you and would LOVE All of the above. Im sorry greasy  food and junk stores do not appeal to me! Also I've seen more elderly people in the newer cafes than anything.  I would also love a pub why should I have to go to woodside? Jackson Heights has changed over the years and continues to change. You seem a bit bitter. I enjoy the hipsters/yuppies whatever you want to call it. I love having organic options/art/community meetings/parent groups/ play street/ etc etc.

Offline Shelby2

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Re: How can businesses afford the rent on 37th Ave?
« Reply #55 on: October 07, 2009, 06:29:51 PM »
a little hint on making your posts not come out small and shaded -- after you click on quote to quote the other person's post,  scroll down to after the [/quote]   symbol and then start your response.  :angel:

Offline dssjh

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Re: How can businesses afford the rent on 37th Ave?
« Reply #56 on: October 07, 2009, 07:11:43 PM »
i'm not bitter and i don't want to be argumentative.

i don't find the tibetan, vegetarian indian, korean, etc places to be greasy or junk food.

i never said i do not enjoy having the play street here. i raved about it elsewhere.

i never criticized the availability of organic food.

i never said a word against newer coffeehouses, which i also have said wonderful things about on this forum.

i have nothing against change. i simply have fond memories of a new york where you could go from neighborhood to neighborhood and actually see a difference, not just one wash of banks, bistros and blandness.

hoping you have a wonderful evening.

Offline v70cat

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Re: How can businesses afford the rent on 37th Ave?
« Reply #57 on: October 27, 2009, 08:36:05 AM »
Part of the problem is that the buildings are owned by different owners and therefore they are trying to maximize tenant/rent for one space at a time.

At a good retail mall the management understands you need a mix of tenants you can't have five jewelry stores and therefore the mall will offer lower rents to attract book stores and other lower margin retailers.

Look at 82nd Street today we have lost retail balance we have to many banks but as a owner I would want a bank tenant because they have good credit and sign long term leases.

Offline I live here too

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Re: How can businesses afford the rent on 37th Ave?
« Reply #58 on: October 27, 2009, 05:44:08 PM »
 Alot of these landlords lease month to month w/o contract, allowing the tenant to "renovate" the space for them for free, then jack the rent up after a few months when the tenant has invested so much time and money.  The tenant tries to hold on as long as they can, they get kicked out and the landlord finds their next mark.  It's a dirty little game.

Offline v70cat

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Re: How can businesses afford the rent on 37th Ave?
« Reply #59 on: October 31, 2009, 09:05:29 AM »
Why do we view landlords as "dirty"?

They buy commercial real estate to make money, just like buying stocks or bonds.
A lot of real estate is owned by families that are good members of community and are willing to give back (like the Rudin Family http://www.thefreelibrary.com/Bill+Rudin+to+speak+on+long-term+real+estate+investing.%28Brief+Article%29-a062026986)

Normally retail leases are for 10 years a month to month lease normally is just interim use of the space until a better tenant comes along.