tag:blogger.com,1999:blog-5694390946037511355.post7900770252248622418..comments2024-03-29T03:35:13.051-04:00Comments on EV Grieve: 34 Avenue A is for rent, againUnknownnoreply@blogger.comBlogger11125tag:blogger.com,1999:blog-5694390946037511355.post-28818222647204764872011-08-05T21:19:16.506-04:002011-08-05T21:19:16.506-04:00I'm happy there is no 4am bar there simply bec...I'm happy there is no 4am bar there simply because when there was, I was woken up *every* Saturday night at 3am by yelling drunken yahoos from Long Island or wherever.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-23269728895388975462011-08-05T15:46:12.859-04:002011-08-05T15:46:12.859-04:00I'm not opposed to anon's well-explained l...I'm not opposed to anon's well-explained logic, but for the record, this article seems to suggest the contrary - that if the community keeps bars out, owners will eventually lower their asking price cuz they want a deal done:<br />http://www.dnainfo.com/20110805/lower-east-side-east-village/controversial-avenue-bar-space-for-rentbowery boynoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-57132651600660022752011-08-04T14:59:29.396-04:002011-08-04T14:59:29.396-04:00well, who knows, a shoe store might open up there;...well, who knows, a shoe store might open up there; marc jacobs may be expanding his empire all the way in the ev from the greenwich village.esquared™https://www.blogger.com/profile/03535683572170541615noreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-7061472934734247202011-08-04T14:52:28.435-04:002011-08-04T14:52:28.435-04:00@ Bowery Boy
While, I agree theoretically with yo...@ Bowery Boy<br /><br />While, I agree theoretically with you, the sad reality is, it will NEVER happen. It benefits property owners more to leave the space vacant, then to reduce rent and sign a lease. <br /><br />(I could be off, but this is my last recollection of tax law): <br /><br />Property owners can write up a loss of 50% of the rent on un-rented property of the market. This brings down their net income for the year, reduces their taxes, and they have no liability (b/c no one is in the space) so in a sense, it's less risky. <br /><br />Let's look at the math of 2 scenarios over a 5 year period:<br /> <br />1. Lists rent as $15,000. For 4 years, no one rents (writing off $360,000 over a 4 year period). Someone rents the space for 1 year (makes $180,000 in yearly rent). Essentially, this is a $540,000 value for the property owner. <br /><br />2. Lists rent as $15,000. For 2 years no one rents (writing off $180,000). Owner reduces rent to $10,000 (lets be real - a shoe store couldn't afford that either). For 3 years, the place is rented at $10,000 bringing in $300,000 in rent. This is in total a $480,000 value for the property owner, and he has liability, may have to make improvements, chase rent, etc. <br /><br />Guess which scenario people choose again and again and again?<br /><br />See why NYC storefronts, condos, apartments stay vacant as opposed to lowering rents?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-22767794246837438672011-08-04T14:42:58.125-04:002011-08-04T14:42:58.125-04:00Ah. sorry. Shoe store as metaphor. That went right...Ah. sorry. Shoe store as <i>metaphor</i>. That went right over my head because I've read so many people lament the lack of cobblers and shoes store on this site I started thinking I should go back and reread The Shoemaker and the Elves.Kurtnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-40086054034236573912011-08-04T14:26:39.713-04:002011-08-04T14:26:39.713-04:00Yeah, I was only using shoe store as an example.Yeah, I was only using shoe store as an example.EV Grievehttp://evgrieve.comnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-38592434979402061162011-08-04T14:18:57.489-04:002011-08-04T14:18:57.489-04:00Sorry, I thought that "shoe store" was a...Sorry, I thought that "shoe store" was a metaphor.bowery boynoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-67162192686697120172011-08-04T14:00:10.707-04:002011-08-04T14:00:10.707-04:00Why are people always clamoring for shoe stores? T...Why are people always clamoring for shoe stores? There's a shoe store on 1st ave and more shoe stores than you can shake a stick at on Broadway.Kurtnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-73439892157533979352011-08-04T13:45:41.632-04:002011-08-04T13:45:41.632-04:00Maybe we have to keep pushing CB3 to reject the la...Maybe we have to keep pushing CB3 to reject the late-night bar applications until the local owners realize that they'll have to lower their rents, and then maybe we'll get a new shoe store.bowery boynoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-54594193936728861412011-08-04T13:28:03.375-04:002011-08-04T13:28:03.375-04:00CB3 will only approve businesses that can't af...CB3 will only approve businesses that can't afford the rent for this space...<br /><br />Maybe we can get another bank or a Subway, YAY.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5694390946037511355.post-89218132365350574452011-08-04T09:55:55.060-04:002011-08-04T09:55:55.060-04:00I think a more accurate statement might be that CB...I think a more accurate statement might be that CB3 is not in favor of a nightlife related operation that involves a full liquor license and is open until 4am. A music/performance venue with a cafe, a beer and wine license and closes earlier- who knows?Anonymousnoreply@blogger.com