Welcome to City-Data.com Forum!
2,500,000 members. Thank you!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > New York City
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-27-2011, 10:05 PM
 
1,105 posts, read 2,293,939 times
Reputation: 1074

Advertisements

Business Insider showed a list of mon and pop stores that closed down in Manhattan and Brooklyn. There were many. One shop had opened up in 1880. I think it was Katz's bagel or something like that. What is the reason? Is this a trend that we will see more of?
Reply With Quote Quick reply to this message

 
Old 12-27-2011, 10:25 PM
 
Location: Bronx
16,200 posts, read 22,921,044 times
Reputation: 8344
Gentrification is one. another thing might be due to the increase in rents are forcing business to leave and also landlords not renewing rents of mom and pop shops in favor of a dunkin donuts or starbucks. Another reason could be a change in demographics, last but least competition from big box stores.

Last edited by Bronxguyanese; 12-27-2011 at 11:45 PM..
Reply With Quote Quick reply to this message
 
Old 12-27-2011, 10:34 PM
 
Location: Crown Heights
961 posts, read 2,455,643 times
Reputation: 524
^ I agree with Bronx-G, its mainly the raising of rents. Generally mom and pop stores perform very well in NYC even when faced with competition from national chains in some cases. However inspite of performance they're faced with high rents which cause some to raise prices and others to close entirely. Landlords know they can charge another bank branch, tmobile or starbucks astronomical rents because of all the capital they have backing them, so they don't mind pushing out a longtime tenant. Hopefully things change soon.
Reply With Quote Quick reply to this message
 
Old 12-27-2011, 10:46 PM
 
1,494 posts, read 2,710,045 times
Reputation: 929
Quote:
Originally Posted by Angorlee View Post
Business Insider showed a list of mon and pop stores that closed down in Manhattan and Brooklyn. There were many. One shop had opened up in 1880. I think it was Katz's bagel or something like that. What is the reason? Is this a trend that we will see more of?
Visit the east village sometime to witness what outrageous lease hikes will do to a neighborhood once it gentrifies: a Chase bank where 2nd Avenue Deli once kept the neighborhood well-fed on pastrami and chopped liver, and while not exactly in the east village this is a great example: TGI fridays in union square. Better yet, if you have ever visited St. Marks back in the punk days, take a stroll down there now you probably wouldn't even recognize it. The East-Vill character has been brutally raped, sodomized and then dragged out onto the street and bludgeoned to death thanks to the double-edged sword of gentrification.

Can you hear the sound of me packing my bags?

Last edited by Alkonost; 12-27-2011 at 11:13 PM..
Reply With Quote Quick reply to this message
 
Old 12-27-2011, 10:53 PM
 
1,319 posts, read 4,233,560 times
Reputation: 822
Rising rents hurts and gentrification is pushing up rental prices but that's normal and it's been going on for while. The biggest and the actual cause is the state of overall economy. The real issue is that small businesses can't keep up with rising rent. If they were able to keep up, they have been struggling and been trying to hold on but could no longer with our economy's recovery dragging along and not really starting. We had a sharp drop when 2007 bubble popped but our recovery has been super slow rise and with some spikes of dips due to other global scares.

Typically mom and pop businesses cater to lower class to mid-middle class and in past 5-8 years, this particular range of class has taken huge hit and high unemployment numbers.

Businesses that cater to upper middle class, upper class, and ultra-rich are doing alright and some are doing very well. However most of those businesses aren't mom and pop stores. If they are...well then that mom and pop are already quite wealthy because it takes lot of money to have a business that provide the needs and quirks of the rich.

For example, one of my friend's family have been operating mom & pop fruit store in Brooklyn for 15+ years. They are barely going by because...
1. People who are make enough money want organic fruits and people in that category normally don't go "oh i'll stop by kim's corner fruit store to pick up my organic apples." They go, oh i'll order from fresh direct or stop by Trader Joe or WholeFood.
2. People who don't make enough money AKA lower to mid-middle class, are typically doing worse in current economy so they don't buy as much fruit. When you got hard time paying bills or afraid because of job insecurity, you're not going to spend money buying fruits when you gotta buy bread, milk, and meat.

Another example is another friend who runs a hair salon. Same logic here, if your well off (upper middle class and higher). You are going to go to higher end hair salon. Rest of us aren't gunna drop money to get haircut as much as we did before or drop extra for hair treatment and etc.
Reply With Quote Quick reply to this message
 
Old 12-28-2011, 08:07 AM
 
8,743 posts, read 18,305,653 times
Reputation: 4168
It is unfortunate but nothing new in NYC. While it's sad that SOME locally owned businesses close, there are many other that are opening and doing well...it's called change!! Welcome to NYC. Sure there are more big box retailers...and to that I say SO WHAT. What kind of "world class city" or "the best city in the world" is it when you can buy a $40,000 purse on Fifth Ave, and a jar of pigs feet on Tenth Ave, and everything in between.... but can't buy a flat screen from Best Buy????? Or towels from Target? Or a bath mat from Bed Bath and Beyond? Really?

The "greatest city in the world" should have it all..and now we are almost there. So to answer your question...rents are going up..NOT because LLs are greedy..but because DEMAND is there. You can have a LL want $10 million dollars for a 300 sf space in Harlem..and it will be vacant unless DEMAND is there..and that is what is happening. Why would I sell my car to you for $5K when I can sell it to another for $20K? Who would do that?????? Rents are no different...why would we expect them to be??
Reply With Quote Quick reply to this message
 
Old 12-28-2011, 08:31 AM
 
105,628 posts, read 107,583,257 times
Reputation: 79270
its not all about gentrification. most small businesses are under capitalized for the downturns when they come.

each downturns closes many many small businesses as they dont have staying power.
Reply With Quote Quick reply to this message
 
Old 12-28-2011, 03:21 PM
 
Location: New York City
559 posts, read 1,106,955 times
Reputation: 388
So what?

Manufacturers of horse-drawn carriages also closed down. Garments producers have practically disappeared. Organ grinders are now found only in archival photos.

Life moves on, the city goes on.
Reply With Quote Quick reply to this message
 
Old 12-28-2011, 03:24 PM
 
1,494 posts, read 2,710,045 times
Reputation: 929
Quote:
Originally Posted by urbanintllctl View Post
So what?

Manufacturers of horse-drawn carriages also closed down. Garments producers have practically disappeared. Organ grinders are now found only in archival photos.

Life moves on, the city goes on.
Yeah, gentrification puts the "Gen" into GENERIC. Wheeee. I'm so happy I feel like buying a wad of overpriced toothbrushes from Duane Reade and then buy a burrito from Taco bell!
Reply With Quote Quick reply to this message
 
Old 12-28-2011, 03:28 PM
 
Location: New York City
559 posts, read 1,106,955 times
Reputation: 388
But if lots more people felt the same way you did, then those stores would make enough money to pay higher rents. But it seems that not many people share your views.

I find Duane Reade convenient. I've never eaten at Taco Bell. But, purchases are daily votes made by free people. And if people like those places, good for them.

If mom and pop were really good stores, then they wouldn't have died out.

Quote:
Originally Posted by Alkonost View Post
Yeah, gentrification puts the "Gen" into GENERIC. Wheeee. I'm so happy I feel like buying a wad of overpriced toothbrushes from Duane Reade and then buy a burrito from Taco bell!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > New York City
Similar Threads

All times are GMT -6. The time now is 03:43 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top