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

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

Wendy Silverstein (Credit: Getty Images)

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

Zillow President Jeremy Wacksman

Zillow launches its high-stakes home-flipping business in LA

109-09 15th Avenue, 5 Court Square, 24-16 Queens Plaza South in Queens (Credit: NestSeekers and StreetEasy)

Big dollar drop in Queens top 10 condo filings

Cuomo calls Amazon’s Hudson Yards lease “crumbs from the table”

Cuomo calls Amazon’s Hudson Yards lease “crumbs from the table”

HFZ managing director John Simonlacaj and The XI development (Credit: LinkedIn and Wikipedia Commons)

HFZ’s High Line condo-hotel project was ATM for the mob, prosecutors say

220 Central Park South and 423 Park Avenue (Credit: iStock and StreetEasy)

Why ultra-luxury condo buyers are paying millions too much

arrow_forward_ios