The Real Deal New York

From the February issue: With building prices still near historic highs, landlords are taking the money and running, a decision that often affects small businesses. With condos replacing mom-and-pop shops on many street corners, The Real Deal asked brokers, property owners, city officials and preservationists: What city businesses are most vulnerable to buyout offers from developers? Not everyone agreed on the answer, but most conceded that, like it or not, the majority of small-business owners—be they proprietors of bars, parking garages or Laundromats—can be hard-pressed to justify staying in business when a check for several million dollars is enticing them to shut down. “It’s like winning the lottery,” said John Reinertsen, a commercial broker at CB Richard Ellis.