Wednesday, April 11, 2007

Update on Retail Space

Logged in a call to David at Kensington Realty re: vacant store at 211 Church Ave. Going rate is $2200 per month for approx. 600 sq. feet. He has another space available at the end of the month (much larger) but wasn't sure about other locations I listed.

I rang a friend who knows about retail rents and he was amazed at the $44 per square foot cost. He thought for the area prices should be more in the high teens to low 20s per foot and said by comparison commericial rents in lower Manhattan are in the mid 40s. He was also quick to note a specific space in Brooklyn Heights that rented for $46 per sq. ft. I'm left to wonder, was the $2200 the price or just the price I was quoted?

One more comparision, and I have no idea of it's size, but supposedly the old fabric place next to Farm on the A on Cortelyou was going for $3000 and needed a total gut renovation.