Beacon’s Closet exits Williamsburg due to high rents

New York /
Sep.September 03, 2013 01:23 PM

Popular vintage clothing store Beacon’s Closet is leaving its Williamsburg flagship of 11 years for Greenpoint — another victim of the area’s rising retail rents.

The retailer’s exit from 88 North 11th Street will allow next-door neighbor Vice magazine to expand its headquarters. The high rents through Williamsburg have led Beacon’s Closet to look elsewhere. Neil Dolgin, co-president of Kalmon Dolgin Affiliates, told Crain’s that rents on Williamsburg’s side streets are approaching $60 per square foot — a six-fold increase from 10 years ago.

“It seems like a lot of landlords are assigning arbitrary pricing to their spaces and just waiting to see what big fish or national chain will come and take the bait,” said Beacon’s founder Carrie Peterson.

Beacon’s, which has shops in the West Village and Park Slope, will instead open an outpost at 74 Guernsey Street in Greenpoint, where it signed a lease for 7,500 square feet on the ground floor. [Crain’s]Mark Maurer

 

Related Articles

arrow_forward_ios
RedSky Principal Benjamin Bernstein and a section of the prooperties along N6th in Williamsburg. (RedSky)
RedSky hands over Williamsburg retail portfolio valued at $145M
RedSky hands over Williamsburg retail portfolio valued at $145M
Miki Naftali of Naftali Group and 470 Kent Avenue (Getty; Google Maps)
Naftali Group files plans for 400-unit towers in Williamsburg
Naftali Group files plans for 400-unit towers in Williamsburg
Lantern Real Estate co-founder Tal Bar-Or and a rendering of the project
Williamsburg building gets $41M bridge loan after Brooklyn Boulders bails
Williamsburg building gets $41M bridge loan after Brooklyn Boulders bails
25 Kent Avenue and Amazon CEO Jeff Bezos (25 Kent; Getty)
Amazon Music is coming to Brooklyn’s office market
Amazon Music is coming to Brooklyn’s office market
From left: 21 Montrose Avenue in Williamsburg, 1480 Amsterdam Avenue and 520 West 136 Street in West Harlem and 208-212 West 141st Street in North Harlem (Google Maps)
Week’s mid-market sales run gamut from $80 to $500 psf
Week’s mid-market sales run gamut from $80 to $500 psf
126 Hancock Street and 85 North 3rd Street (Google Maps, Corcoran)
Bed-Stuy townhouse tops Brooklyn luxury contracts
Bed-Stuy townhouse tops Brooklyn luxury contracts
111 Kent Avenue and Stanley Iezman (Credit: Google Maps)
American Realty Advisors eats $10.7M on Williamsburg sale
American Realty Advisors eats $10.7M on Williamsburg sale
470 Kent Avenue and Naftali Group’s Miki Naftali (Credit: Google Maps, Gonzalo Marroquin/Patrick McMullan via Getty Images)
Naftali closes on large Williamsburg development site for $100M
Naftali closes on large Williamsburg development site for $100M
arrow_forward_ios

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

Loading...