Storefront Vacancies on 2 of Staten Island's Corridors

Posted by Casandra Properties on Wednesday, September 4th, 2019 at 1:53pm.

Storefront VacanciesCasandra Properties CEO, James Prendamano, recently had the opportunity to speak with Tracey Porpora of the Staten Island Advance about a recent report conducted by the City Planning Department entitled “Assessing Storefront Vacancy in NYC.” The report highlighted 2 areas on Staten Island; New Dorp Lane and Port Richmond that have experienced storefront vacancies. 

 

James was quoted saying, “Both of these corridors (New Dorp Lane & Port Richmond Avenue) were once walkable and on-site parking was not a requirement. One of the unintended consequences of downzoning and zone changes in the surrounding neighborhoods have in essence frozen these buildings in time. They don’t have adequate on-site parking that meets the retailer’s requirements.  When you couple that with sky rocketing real estate taxes, the result is retailers seeking a newer product with tax abatements, thereby significantly reducing the cost of entry into the market.” 

 

To read the full article click here.

 

Casandra Properties, Inc. specializes in all facets of real estate.  Please contact us at 718.816.7799 or info@CasandraProperties.com.

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