The empty storefront has looked this way for a little while here on Third Avenue at East 12th Street... however, it looked particularly photogenic in this morning's sunlight...
The colorful FroYo establishment closed in March 2015. Funkiberry opened in June 2014.
The asking rent for the corner space was $21,321.00 per month. However, the property is now off the market. So perhaps a new business is on the way. (Cue Beer Store comment!)
Until then...
Never forget. #funkiberri #kingofallfroyo pic.twitter.com/fgfQR3HZig
— EdenBrower (@edenbrower) October 22, 2015Previously on EV Grieve:
Hey, the Funkiberry sign is up on 3rd Avenue
Hey, Funkiberry is now open on 3rd Avenue
Hey, the Funkiberry space is for lease on 3rd Avenue
Hey, the Funkiberry closed on 3rd Avenue
Maybe they could put a pizza shop there??? Oh wait there was a pizza shop there!! Then some greedy landlord jacked up their rent forcing them to close and doooshberry moved in and closed even quicker and now we're stuck with this ugly ass vacant storefront that apparently even chain stores can't afford and the landlord gets a tax break because its vacant!!!! Where does it go from here????
ReplyDeleteIf the City Council really wants to help businesses stay in business and not be "rented out" the they should remove the tax deduction for the empty stores.
ReplyDeleteI hear the next store moving in is going to be a froyo place called Crappiberry, and they're going to leave the front as-is, since all of their money will be going to pay the rent, leaving none left for decor.
ReplyDeleteFunkiberry is sleeping in FroYo heaven with Pinkberry, Red Mango, the Yogurt Station, and of course the late, great DF Mavens, which was open barely more than one year before it closed. Selling six dollar frozen treats is just not a great business model anymore.
ReplyDeleteThat's berry berry high rent.
ReplyDeleteAt noon, cmarrtyy said...
ReplyDeleteIf the City Council really wants to help businesses stay in business and not be "rented out" the they should remove the tax deduction for the empty stores.
Unfortunately, City Council could give a rat's ass…
There is no "tax deduction" for an empty storefront. The continual propagation of false facts is reminiscent of the Seinfeld episode where Kramer says "It's a write off, Jerry. The big companies, they just write it off."
ReplyDeleteWell funk that! They should have obtained a liquor license and topped that froyo with Armagnac or Kahlua or Yamazaki 35 Year Old or served it in a hoof of Kettle One, because Gentlemen, that IS vodka, and they'd still be in business.
ReplyDeleteWell the next tenant can shovel snow with a hoof cause the corner has been left untended this past week. Or maybe the landlord/leasing agent will see this and get a clue.
ReplyDeleteThey should now call it Chez Don Freude.
ReplyDeleteAcai Lounge!
ReplyDeleteANON 5:20PM
ReplyDeleteDig this :
http://money.stackexchange.com/questions/48940/tax-deductions-on-empty-property
http://www.thestar.com/news/gta/2012/01/10/porter_a_tax_break_thats_bad_for_business.html
http://ny.curbed.com/archives/2014/10/24/shocker_half_of_midtowns_super_luxury_condos_sit_vacant.php
Happens EVerywhere THROUGHOUT the WORLD, baby.....THE WHOLE WIDE WORLD!!!
WAKE UP!!!!!!!!!!!!!!!
Dr. Bop -- Your links just confirm that the comments are wrong. The property taxes on this building are about $160K per year. They do not change whether or not the store is occupied, or the apartments are occupied. Sure, the owner of a business, or any individual, can offset certain expenses against revenues when calculating profits for which INCOME -- not PROPERTY -- taxes might be due. But you need income for that to matter, against which the expenses can be offset. Having no rent (i.e., revenues) does not help. The reason that storefronts stay vacant is that too many are owned by large real estate interests, and below market rents can adversely effect rental values on a much larger portfolio of properties, so one might be better off with an empty store than renting for lesser amounts.
ReplyDeleteThe massive influx of FroYo stores and their closing after 6-12 months is not so much a tax scam as it is an immigration scam.
ReplyDeleteThere's an EB-5 visa available to foreign nationals who invest $500k in a US business that creates 10 jobs. Franchises are perfect for this - just write a check, the franchisor helps you set it up, you open for a few months, hire a few people, lose some money and then close as soon as your green card arrives.
The trendy franchise has moved from froyo to juice bars as our neighborhood knows
http://juiceblendz.com/franchises-target-immigrants-as-buyers/
It's people buying citizenship - you aren't a "migrant" or "refugee" if you have enough money. I suspect it's mostly dirty money from China and the Middle East - same as the $5M+ condo buyers. More likely to be for the kids who want to live in NYC, because the parents wouldn't want to be subject to US tax rules that come along with residence / citizenship.
I, or one enjoy the bright joyful lights of the Funkiberry. They put a song in my heart and a spring in my step every day. EVERY DAY.
ReplyDeleteWow. 3:24. Just. Wow.
ReplyDelete