tag:blogger.com,1999:blog-21554899.post3588147274717213111..comments2024-03-26T04:26:04.911-07:00Comments on Lost City: Reverse Rejuvenation for Times Square?Brooks of Sheffieldhttp://www.blogger.com/profile/18297071358029060908noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-21554899.post-17091923951429460882008-06-10T14:31:00.000-07:002008-06-10T14:31:00.000-07:00Thanks, Baha. Nice to see someone agrees with my "...Thanks, Baha. Nice to see someone agrees with my "radical" notion of a landlord's moral duties. Most people look at me like I'm crazy when I say stuff like that. But the thing is, those aren't buildings you own, Mr. Landlord. Those are buildings with people in them.Brooks of Sheffieldhttps://www.blogger.com/profile/18297071358029060908noreply@blogger.comtag:blogger.com,1999:blog-21554899.post-57414915314859871062008-06-10T12:04:00.000-07:002008-06-10T12:04:00.000-07:00"You don't fuck around with people's lodging and l..."You don't fuck around with people's lodging and livelihoods just to line your pockets. You just don't."<BR/>Don't suppose we could get that on a tee shirt? Seriously, though, it's sad that that principle even has to be stated, but so few people seem to grasp it in today's NYC.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21554899.post-25395451148395406602008-06-10T08:32:00.000-07:002008-06-10T08:32:00.000-07:00I'm all for cosmic revenge where landlords are con...I'm all for cosmic revenge where landlords are concerned. I'm sure, if Hell exits, there's a special circle there for them. You don't fuck around with people's lodging and livelihoods just to line your pockets. You just don't. Therein lies the innate immorality of the business.Brooks of Sheffieldhttps://www.blogger.com/profile/18297071358029060908noreply@blogger.comtag:blogger.com,1999:blog-21554899.post-21526528985872562292008-06-10T08:19:00.000-07:002008-06-10T08:19:00.000-07:00I suppose there can be a bit of cosmic revenge in ...I suppose there can be a bit of cosmic revenge in these situations. If market rents really don't end up rising, the landlord ends up taking a big financial hit.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21554899.post-47597192860817281022008-06-10T08:12:00.000-07:002008-06-10T08:12:00.000-07:00Yes, Peter, I know, and I, quite frankly, deplore ...Yes, Peter, I know, and I, quite frankly, deplore that practice as the worst sort of predatory real estate behavior, particularly when it forces out successfully performing businesses to satisfy the greedy prospect of future riches. LeNell's in Red Hook is suffering from just this sort of behavior.Brooks of Sheffieldhttps://www.blogger.com/profile/18297071358029060908noreply@blogger.comtag:blogger.com,1999:blog-21554899.post-67871810509383637692008-06-10T07:37:00.000-07:002008-06-10T07:37:00.000-07:00Commercial landlords sometimes would rather keep s...Commercial landlords sometimes would rather keep space vacant than rented out at low rates if they believe market rents are soon going to rise. This way they can move quickly if the rise actually occurs, rather than having to wait for the low-rent leases to expire.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21554899.post-64766579029739159522008-06-10T06:05:00.000-07:002008-06-10T06:05:00.000-07:00Perhaps, Jake F, but the businesses on 45th Street...Perhaps, Jake F, but the businesses on 45th Street have been shuttered for more than two years, ditto Howard Johnson's, Ollie's more than a year. And there's no activity. Also, are we sure that there's someone who's going to leap at $700 psf in this economic climate? Real estate people are known to kick out paying tenants in hopes that a higher-paying one will come along. Often, no one comes along for years.Brooks of Sheffieldhttps://www.blogger.com/profile/18297071358029060908noreply@blogger.comtag:blogger.com,1999:blog-21554899.post-91289608935552477422008-06-09T20:13:00.000-07:002008-06-09T20:13:00.000-07:00This is the kind of "trend" that only someone need...This is the kind of "trend" that only someone needing daily copy would identify. CD stores are obviously obsolete, so the Virgin closing has nothing to do with Times Square. The other closings have to do with new business interests. This is creative destruction.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21554899.post-54898597210732520992008-06-09T15:24:00.000-07:002008-06-09T15:24:00.000-07:00From what I hear, Virgin is being closed by Vornad...From what I hear, Virgin is being closed by Vornado because they are paying $54 psf when the market for the area is $700 psf. The Virgin Megastore is actually being priced out.Edhttps://www.blogger.com/profile/06825430583867087837noreply@blogger.com