Hip EV restaurants follow cheaper rents, former clientele to Williamsburg

TRD New York /
Feb.February 03, 2012 10:00 AM

The same cheap rents that attracted so-called hipsters across the river to Williamsburg from the East Village and Lower East Side, are bringing their favorite restaurants to Brooklyn, the Wall Street Journal noted.

With Williamsburg’s dining scene now firmly established, restaurateurs can take advantage of the lower rents and incur less stress over profits. Whereas rents in the East Village and Lower East Side range from $100 to $150 per square foot, in Williamsburg prices are just $30 to $80 per square foot, according to Peter Levitan a broker with Lee & Associates.

That has attracted standbys like the Meatball Shop, Momofuku, Vanessa’s Dumpling House, Max and Mama’s Food Shop to open in recent months. Other restaurateurs are using the cheaper rents to experiment more with their concepts.

“The rent is a little more forgiving,” said Alla Lapushchik, who helped open Death & Co. in The Village Before Opening Post Office On Havemeyer Street on her own. “When you’re not super stressed because your rent is $10,000 a month, you can focus on the parts that you like.” [WSJ]


Related Articles

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

WeWork’s side businesses are fizzling

Joel Schreiber (Credit: Shir Stein and Wikipedia)

WeWork’s first investor used his stock as collateral. Now his lenders are suing him

Tenants at “dozens of buildings” in LA receive eviction notices ahead of California’s new rent law

Nicolai Ouroussoff and Cecily Brown with 125 East 10th Street (Credit: Columbia GSAPP via Flickr, Wikipedia, and StreetEasy)

No criticism here: Nicolai Ouroussoff, Cecily Brown buy E. Village house for $7.75M

NYCHA strikes air rights deal with developer, WeWork shuttering its pricey private school: Daily digest

Alex Rodriguez

Watch: A-Rod on the benefits and pitfalls of being a celebrity investor

arrow_forward_ios