Columbus Avenue mom-and-pop shops holding their own

TRD New York /
Jun.June 28, 2010 09:30 AM

Despite the city’s influx of large retailers and chains, the stretch of Columbus Avenue between 67th and 82nd streets has been largely spared from the invasion thanks to small footprints and landlords’ and residents’ unique support of mom-and-pop shops, according to Crain’s. Many of The Buildings On The Avenue are simply too small to fit national chains, which prefer Broadway’s large stores as opposed to the 500- to 1,000-square-foot storefront spaces available on Columbus, said Robert Quinlan, who owns 35 properties on the corridor and is chairman of the Columbus Avenue Business Improvement District. And that’s served landlords like Quinlan well during the recession: most small shop owners there survived the downturn — there are just two vacant storefronts in the Columbia Avenue BID — while other shopping strips have been besieged with vacancies. Asking rents have also held up: they are currently at almost $300 per square foot, relatively unchanged since two years ago. By comparison, Madison Avenue rents have dropped by up to 50 percent since 2007. [Crain’s]

 

Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
AIG, Goldman lend on Shvo’s “Big Red” buy in Chicago

AIG, Goldman lend on Shvo’s “Big Red” buy in Chicago

AIG, Goldman lend on Shvo’s “Big Red” buy in Chicago
Thomas Keller with Bouchon Bakery and TAK Room in Hudson Yards (Taylor Hill/FilmMagic, Bouchon Bakery by David Escalante via Thomas Keller Restaurant Group; TAK Room by John Lamparski/Getty Images for The Conservatory NYC)

Thomas Keller closing TAK Room, Bouchon Bakery at Hudson Yards

Thomas Keller closing TAK Room, Bouchon Bakery at Hudson Yards
Michael Shvo and Serdar Bilgili in December 2019 (Getty, iStock)

Bilgili wants Shvo to open his books

Bilgili wants Shvo to open his books
From left: Sandhya Espitia, John Canniffe and Jim Whelan (Linkedin, Whelan by Evan Gutierrez)

REBNY’s RLS chief bows out

REBNY’s RLS chief bows out
Airbnb CEO Brian Chesky (Getty)

Airbnb’s Q2 revenue falls by almost 70%

Airbnb’s Q2 revenue falls by almost 70%
arrow_forward_ios

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

Loading...