According to the Park Slope Patch, commercial rents near the Barclays Center have doubled over the past few months and vacant spaces are filling up fast.
This certainly seems like good news for properties near Flatbush Avenue and there is plenty of evidence that the arena is attracting businesses to vacant spaces on the northern end of Fifth Avenue.
The question is, will these rent increases make their way south along Fifth, towards Union Street and, if so, can stores, bars and restaurants make money under these circumstances?
What do you think?
Read the full Patch article here.
Nice blog...
ReplyDeleteI don't think these increases will make their way North. I'm sure foot traffic will increase a bit.....but not to the extent that it will justify increasing the rent. This is still great news
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