Another shop closing.. 0

[Ride the Tiger]

1 hour ago, Robot Man said:

Best Buy by me closed a couple of months before Christmas. You would have thought they would negotiate their lease for a couple of months but apparently the landlord wanted to play hardball with them. The place is huge and still empty. Will be hard to find a tennant for such a huge building. 

Ours closed mid November. Couldn't believe they would close up weeks before black Friday sales.

[Robot Man]

Yeah, I can’t believe they did that. One of the biggest problems in business now days is poor management decisions. 

[the blob]

4 hours ago, shadroch said:

I remember the kids from Chameleon when they started out.  They went from a booth in a flea market to a shop on an obscure side street to a big store on Main Street inside of two years and expanded into Manhattan a couple years later. The original owners were sharp as hell, I don't know if they are still involved. 

Chinese American guy. Now in his 50s, but the dude hardly ages. His family made some smart real estate investments in queens, he won't starve.

[the blob]

11 hours ago, makeminemego said:

Because the world needs another Walgreen's..........

There are two giant Duane Reades within a block of each other down here and another one 3 blocks away. High end coffee shops and fancy bars can survive.

[shadroch]

8 minutes ago, the blob said:

Chinese American guy. Now in his 50s, but the dude hardly ages. His family made some smart real estate investments in queens, he won't starve.

Jimmie Wu or Woo? Sounds like the same guy. He'll be fine.

[the blob]

4 minutes ago, shadroch said:

Jimmie Wu or Woo? Sounds like the same guy. He'll be fine.

Steve. I think his brother got out of the business years ago.

[Robot Man]

59 minutes ago, the blob said:

There are two giant Duane Reades within a block of each other down here and another one 3 blocks away. High end coffee shops and fancy bars can survive.

How do Starbucks literally on every corner make it?

[dupont2005]

8 minutes ago, Robot Man said:

How do Starbucks literally on every corner make it?

Three coffees a day aught to cover their overhead 

[Aweandlorder]

Also Starbucks is not a franchise so if u wanna make them wealthier by opening a store for them it will cost you 315k (at least that's what goggle says)

[NoMan]

I admit it, I'm a high end coffee guy. I support those places. Starbucks is doable. On the other hand Peet's Coffee is like drinking the contents of the port-a-potty at 5th and Main in Downtown Los Angeles. 

Drag about stores closing. I see the construction non-stop and see empty storefronts everywhere. Wish I was smart (or dumb ??) enough to figure that one out. 

Edited March 14, 2019 by NoMan

[Coverless 9.8]

12 hours ago, Mr bla bla said:

This is unregulated capitalism at its worst,- when greed reaches a level where it starts to break down peoples local environment.

40% jump = thats one greedy scumbag for sure.

Agreed! It's not like an appearance of a character in a comic where a movie has been announced! 

[the blob]

1 hour ago, Coverless 9.8 said:

Agreed! It's not like an appearance of a character in a comic where a movie has been announced! 

When one thing goes up 40% there is plenty of stuff that has gone down. Where stores are empty or forced to close because of rent gouging, businesses that are viable without gouging, it impacts employment, tax collections, etc. Obviously the landlords think they make more keeping a store empty for 5 years. In other places stores may be empty because there aren't viable tenants, but not really here. This shop kept 2 guys employed full time at $15 an hour and another part time guy. The owner was able to afford a house in the suburbs and a kid. This wasn't a struggling shop where the owner was struggling to survive. We'll see. I guess if so etching actually goes in the space that survives it will be an economic wash. My old lcs was pushed out to make a coat check room and concierge table for a fancy restaurant that opened up next door. 

Edited March 14, 2019 by the blob

[Coverless 9.8]

2 hours ago, the blob said:

When one thing goes up 40% there is plenty of stuff that has gone down. 

The store can reopen elsewhere where the owner deems the rent more reasonable!  Some have moved more than once under such circumstances!

[justafan]

was it the "rent" that went up 40% or the protection money. I guess in NYC it could be the same thing.  

 

[shadroch]

Didn't the Federal Government subsidize a lot of commercial leases in the area? After the September 11th attack,  they were giving incentives like chiclets .  Signing a long term lease back then could explain the 40% increase now.

[the blob]

4 hours ago, Coverless 9.8 said:

The store can reopen elsewhere where the owner deems the rent more reasonable!  Some have moved more than once under such circumstances!

He has given up. He won't. Certainly not in Manhattan. Comic shop are too risky for a landlord. Big moving costs. They'd want a huge deposit. If he is closed for 2 months he loses his file customers. 

[the blob]

2 hours ago, shadroch said:

Didn't the Federal Government subsidize a lot of commercial leases in the area? After the September 11th attack,  they were giving incentives like chiclets .  Signing a long term lease back then could explain the 40% increase now.

Has been there since 93. I think he did sign a lease during the last recession, but not 9/11, so that might have helped. But these leases usually go up some % every year.

[Alf Pogs]

[the blob]

On a personal level this is probably good for me in that I found myself buying stuff there I did not need or have room for, basically spending lunch no at there. The dollar box scores had become few and far between. And I am so crushed with work and childcare obligations (and should be working out when I do have an opening) hanging out there An hour or two a week was not in my schedule anyway. Oh well, so closes a chapter in my life.

[Bookery]

On 3/14/2019 at 3:48 AM, Mr bla bla said:

This is unregulated capitalism at its worst,- when greed reaches a level where it starts to break down peoples local environment.

40% jump = thats one greedy scumbag for sure.

Not necessarily.  You can't make that assumption without more facts.  I own my buildings... no rent involved.  But over the years my property taxes have risen over 100%.  Repairs and maintenance costs are always rising.  Maybe the landlord is greedy... or maybe he's forced to pass along his own skyrocketing expenses.