Though wounded by pandemic shutdowns and the rise of on-line buying earlier than then, Brooklyn seems in remarkably sound form.
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Manhattan’s struggling retail scene appears to get all the eye. Plainly for each absolutely or principally leased, high-profile hall like Broadway in Soho, there’s a stretch filled with yawning vacancies — resembling on Broadway in Tribeca.
However Brooklyn’s retail image is rosier. Though wounded by pandemic shutdowns and the rise of on-line buying earlier than then, a lot of the borough seems in remarkably sound form. You may not know there was ever a disaster when you stroll alongside 86th Road in Bensonhurst, John Travolta’s “Saturday Night time Fever” stomping floor, which has few darkish storefronts.
Now, a brand new report from the Actual Property Board of New York paperwork the retail resiliency in such fashionable neighborhoods as Williamsburg, Cobble Hill, and Greenpoint. The information compiled from April to October discovered that sturdy demand “contributed to a depletion of storefront house in prime corridors as Bedford Avenue South in Williamsburg, Courtroom Road, and Cobble Hill and Franklin Road in Greenpoint.”
The shortage of accessible storefronts drove retailers to hunt new areas in “rising corridors” together with Myrtle Avenue in Fort Greene and Clinton Hill, Montague Road in Brooklyn Heights, and Flushing Avenue in Bushwick.
REBNY additionally reviews that surging tourism prompted nationwide retailers and franchises to open shops or discover choices in Downtown Brooklyn and Park Slope. Amongst them are: Burlington, Dealer Joe’s, and Lifetime Health.
It’s even helped lure manufacturers from Manhattan, resembling Japanese outside life-style model Snow Peak, which moved from Soho to Williamsburg.
Astoria undertaking authorized
In the long run, the Metropolis Council voted to approve plans for Innovation QNS, the five-block mixed-use complicated in Astoria. We reported final week that the complete Council would possibly nonetheless nix it regardless of the blessing of its personal zoning subcommittee.
However props to Council member Julie Received, who got here out for the proposal after earlier saying that the sooner approval was “solely preliminary.” Received had fought to have the undertaking embody extra reasonably priced housing models than the builders first provided.
It seems to be like a cheerful ending throughout.
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