Brooklyn sees large number of stores in peril

New York /
Mar.March 18, 2009 02:10 PM

Brooklyn leads the outer boroughs in the rapid disappearance of stores, according to a new study by Rep. Anthony Weiner.

In the wake of the passage of the federal American Recovery and Reinvestment Act, which provides new funding for small businesses, Weiner’s office canvassed 5,991 stores in Brooklyn, the Bronx, Queens, and Staten Island to assess the health of locally owned businesses. Working with local business improvement districts to complete the survey, Weiner’s office found that 726 outer-borough stores, or 12.1 percent, were closed or in the process of closing.

Brooklyn led the pack, the study found, with 347 of 2,458 stores surveyed closed or in the process of closing, for a vacancy rate of 14.1 percent. Queens followed with 211 of 1,730 stores closed, a vacancy rate of 12.2 percent, and Staten Island had 63 stores, or 9.7 percent, out of 647 surveyed. In the Bronx, 105 stores, or 9.1 percent of the 1,156 stores surveyed, were closed.

New York City has more than 200,000 small businesses, accounting for two-thirds of the city’s private sector jobs, Weiner’s office said. Of these, 96 percent have fewer than 50 employees.

The American Recovery and Reinvestment Act aims to create or save more than 90,000 jobs in New York City. TRD


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Michael Fulfree and Bianca D’Alessio of Nest Seekers International (Nest Seekers)
They can sell the Hamptons. But can they sell “Selling the Hamptons”?
They can sell the Hamptons. But can they sell “Selling the Hamptons”?
(iStock/Illustration by Kevin Rebong for The Real Deal)
NYC investment sales hit multi-year peak to end 2021
NYC investment sales hit multi-year peak to end 2021
TRD EDU
Stay atop the market (and ahead of your competition) with TRD EDU
Stay atop the market (and ahead of your competition) with TRD EDU
Tax assessments rise 9%, signaling higher bills for landlords
Tax assessments rise 9%, signaling higher bills for landlords
Tax assessments rise 9%, signaling higher bills for landlords
Regal at 106 Court Street (Downtown Brooklyn Partnership)
Regal theater on Downtown Brooklyn’s Court Street unexpectedly shuttered
Regal theater on Downtown Brooklyn’s Court Street unexpectedly shuttered
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...