QUESTION
What factors contribute to commercial vacancies in New York City's retail districts?
1:38:10
·
128 sec
The speakers discuss various issues leading to commercial vacancies in New York City retail corridors and business districts.
- Retail theft is cited as a major problem impacting businesses.
- Lack of foot traffic near vacant storefronts negatively affects neighboring businesses.
- Insufficient funding for legal aid to negotiate favorable lease terms contributes to vacancies.
- Access to grants rather than just loans would help struggling small businesses remain open.
Oswald Feliz
1:38:10
Quick question for both of you.
1:38:14
What are some of the issues that you've seen lead to a commercial vacancy in the area that in the commercial district you work in?
1:38:20
I know you mentioned regulations.
1:38:21
What are some of those regulations?
1:38:23
Also, what else have we seen lead to those commercial vacancies?
Matt Bauer
1:38:26
Well, I mean, the biggest issue, of course, is just maintaining strength of the relationship with their clients and creating products that and services that people want, which has always been an issue.
1:38:36
You know, the competition among the brands But, really, retail theft has been a big issue in our neighborhood.
1:38:43
I should tell you 5 years ago if I got a call from a reporter and asked me, you know, what that was like.
1:38:48
And I said, oh, it's like it's in every, like, in every neighborhood around the country.
1:38:51
And then, you know, 3 years ago, we said, you know, actually, it really is an issue.
1:38:55
We really do have to address it.
1:38:57
So, you know, that's you know, the and the efforts by placing additional police officers in our neighborhood really has helped, and that really has made a difference and more outreach with the police department in terms of creating the window film that goes on sores, which I think, you know, your your legislation that would actually provide grants.
1:39:18
This really would be very, very helpful in providing that.
1:39:20
And Actually, we've worked a lot with our neighborhood crime prevention officers in getting making sure that the services that they're getting in the stores for additional security really help, and that would be really helpful.
1:39:32
In your particular grant, I think we could work very much with you and the NCOs.
Taylor James
1:39:37
Okay.
1:39:39
Myon, I'm seeing, like, business owners that are near a vacant premises.
1:39:45
And that affects their foot track traffic.
1:39:47
Recently, a juice bar called me this week and had that issue.
1:39:51
In addition to that, I think that if there was more funding for legal services, for lease negotiations, we'd be able to put things in the least, like, good guy clauses and things to protect people when they have issues with their lease.
1:40:07
And then, like, as you know, like, another issue is that a lot of times, it's a money issue for small businesses, and it would be very helpful to have more opportunities for grants as opposed to only loans.
