tag:blogger.com,1999:blog-5694390946037511355.post5018285176914436472..comments2024-03-29T01:38:51.887-04:00Comments on EV Grieve: The Upper Rust is moving away from East 9th Street and the East VillageUnknownnoreply@blogger.comBlogger33125tag:blogger.com,1999:blog-5694390946037511355.post-76833212766123278052016-03-28T18:45:50.135-04:002016-03-28T18:45:50.135-04:00A big loss for your neighborhood . I came across i...A big loss for your neighborhood . I came across it 10 years or so when my barber Eric opened The Neighborhood Babershop 2 doors from UPR RUST <br />WHERE in Chelsea is their New Lication ?<br />Thank you ����Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-53065462334458476122016-02-26T12:17:46.993-05:002016-02-26T12:17:46.993-05:00I will check them out in Chelsea.
Melanie
East Vil...I will check them out in Chelsea.<br />Melanie<br />East Village CornerAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-72020496094699874252016-02-23T17:23:21.141-05:002016-02-23T17:23:21.141-05:00Savor the lack of banks and Walgreens while you ca...Savor the lack of banks and Walgreens while you can.Jaredhttp://jaredthenyctourguide.comnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-7440673377167721152016-02-23T12:22:55.933-05:002016-02-23T12:22:55.933-05:00@ Dusty -- magical is the exact word. So charming,...@ Dusty -- magical is the exact word. So charming, so sad to see them go!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-80432266778197756112016-02-23T12:19:36.677-05:002016-02-23T12:19:36.677-05:00The EV used to have landlords that were into a ste...The EV used to have landlords that were into a steady income stream from the building. Icon, in classic predatory equity mode, does not have a business model based on a steady income stream from tenants but on flipping buildings at huge profits. That is why they are notorious for ridding buildings of tenants, empty buildings sell at much higher prices than those with existing tenants. They are not in the business of providing housing, they are in the business of flipping properties i.e. greed is good.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-45541985489961200482016-02-22T22:43:31.045-05:002016-02-22T22:43:31.045-05:00The way they made that stretch of 9th street look ...The way they made that stretch of 9th street look so magical was like nothing else in NYC....Dustyhttps://www.blogger.com/profile/07659475323427412049noreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-74600183792602353702016-02-22T20:47:20.526-05:002016-02-22T20:47:20.526-05:00Is it possible they want to redevelop the lot? Th...Is it possible they want to redevelop the lot? The problem with tenements ultimately is that, as retail and residential both, there are limits on how luxe they can go.Across from the park...it's pretty prime property.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-35577272888103730252016-02-22T11:22:11.622-05:002016-02-22T11:22:11.622-05:00It's just math. Landlords used to leave spaces...It's just math. Landlords used to leave spaces unoccupied, sometimes for years, because they didn't want to be locked into long term leases at a lower rent. 20 years @ $10,000 = $200,000, 15 years @ $20,000 = $300,000, so they might be willing to hold out for a particular length of time for the higher return in the end.<br /><br />But I'm hearing that landlords aren't giving out long term leases in this market, so what's the point?Ken from Ken's Kitchennoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-64255121261839429122016-02-22T11:18:21.433-05:002016-02-22T11:18:21.433-05:00This blows. Even though I've never purchased ...This blows. Even though I've never purchased anything there, it was always nice to walk past it. Felt like part of the neighborhood. Now, its extinct. The EV is changing fast...:(Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-62097305823952102452016-02-22T10:15:30.975-05:002016-02-22T10:15:30.975-05:00When we (Parlor) left that location we were paying...When we (Parlor) left that location we were paying $950 a month in rent. The infastructure of the building was really scared and they later had some fires within the building. I'm sure rents have gone up but maybe their space in Chelsea is just nicer?Parlorhttps://www.blogger.com/profile/00446345483618955965noreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-44905010630924761762016-02-22T10:06:13.829-05:002016-02-22T10:06:13.829-05:00I heard that they are removing the staircase betwe...I heard that they are removing the staircase between pick me up and storefront next to it. Probably gonna combine into one big shit-show.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-35783002727583248062016-02-21T21:33:10.894-05:002016-02-21T21:33:10.894-05:00http://www.newyorker.com/business/currency/why-are...http://www.newyorker.com/business/currency/why-are-there-so-many-shuttered-storefronts-in-the-west-village<br />This article addresses reasons Landlords are not in a rush to fill commercial spaces.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-40071416154822568082016-02-21T19:00:22.772-05:002016-02-21T19:00:22.772-05:00Love it! The very uniqueness of the places that th...Love it! The very uniqueness of the places that the EV provides, which attracted those who moved here and are moving here, paying exorbitant prices for their 'luxury' condos/apt., are disappearing because of their arrival. Those places are now being replaced by the dull, boring, bland, clean tower of steel and glass skyline, much like in Zenith or the Midwestern generic skyline. Now they'll slither and shrivel up and go back to where they come from.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-24360043434236230462016-02-21T18:58:19.832-05:002016-02-21T18:58:19.832-05:0012:55
Chelsea has shoppers. We have drunks. 12:55<br /><br />Chelsea has shoppers. We have drunks. cmarrtyynoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-21380027223582620332016-02-21T18:17:33.908-05:002016-02-21T18:17:33.908-05:00So sorry to see them go. So sorry to see them go. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-25625663940399468762016-02-21T17:51:19.774-05:002016-02-21T17:51:19.774-05:00a vacant store decreases taxes because it decrease...a vacant store decreases taxes because it decreases income<br />it also increases expenses that further reduces taxes<br />and of course loss and then depreciation and all that other stuff<br />what would you call that?<br />there is no benefit to renting for less when owners can just wait for a higher paying tenantblue glassnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-51359901749283662252016-02-21T17:25:52.348-05:002016-02-21T17:25:52.348-05:00The reason why ilandlords keep stores vacant for s... The reason why ilandlords keep stores vacant for so long was the best explained to me once by a commercial broker. He said most owners have an extremely inflated view of the value of their own properties and always think they can get more money on every deal. If these landlords really needed the money, they could just reduce the price or be open to negotiation. Obviously most of them have plenty of cash flow and reserve funds so that they can wait years and years to get the highest price for their precious little spaces. So the next time your landlord complains that he isn't getting enough rent increases to keep up with costs, ask him how come he keeps his retail stores empty for years of a time. Giovannihttps://www.blogger.com/profile/11061991537085810824noreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-25172981705554711162016-02-21T16:56:56.919-05:002016-02-21T16:56:56.919-05:00Bong store!Bong store!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-3825517962887635072016-02-21T16:47:09.031-05:002016-02-21T16:47:09.031-05:00It's not a tax deduction -- it's that they...It's not a tax deduction -- it's that they get to claim a loss.<br /><br />BTW, the phrase is "old wives tale."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-85170825234034439852016-02-21T16:38:12.785-05:002016-02-21T16:38:12.785-05:00If landlords don't get a tax deduction, why do...If landlords don't get a tax deduction, why do they leave spaces unoccupied sometimes for years? Why don't supply and demand balance in the commercial real estate market?<br />For how many years have the commercial spaces on St. Marks just west of 2nd Ave. been vacant?<br /><br />BillAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-13353453528722871732016-02-21T16:29:13.636-05:002016-02-21T16:29:13.636-05:00I wonder if landlords keep storefronts empty in ho...I wonder if landlords keep storefronts empty in hopes to land a high paying tenant (chain business) the way a beautiful gold digger does not marry for love? The motivation must be money and profit these people only care about that.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-41244503037456878942016-02-21T15:56:45.163-05:002016-02-21T15:56:45.163-05:00No, landlords do not get a tax deduction. That is...No, landlords do not get a tax deduction. That is a common wives tale. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-14860747879282935842016-02-21T14:55:48.004-05:002016-02-21T14:55:48.004-05:00Whoever thought Chelsea would be cheaper than the ...Whoever thought Chelsea would be cheaper than the EV?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-87390416718729558092016-02-21T14:35:21.253-05:002016-02-21T14:35:21.253-05:00Anonymous said...
Can someone please explain the b...Anonymous said...<br /><i>Can someone please explain the business model? In detail? I get that the owners are hoping for higher rent and anticipate it will compensate them for foregone rent at a lower rate, but at some point you're losing money by having a vacant space, right?</i><br /><br />As I understand it, landlords with vacant retail spaces get a tax deduction for them—which explains all the empty storefronts in the city. <br /><br />Also explains why you don't see people moving into storefronts anymore.Scuba Divahttps://www.blogger.com/profile/10326884503725331349noreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-79335377118536157712016-02-21T14:19:01.903-05:002016-02-21T14:19:01.903-05:00This is really too bad. Upper Rust is a great shop...This is really too bad. Upper Rust is a great shop. Bought many gifts there and the people who ran it are so friendly. Will be missed. NOTORIOUSnoreply@blogger.com