April 26, 2016 Staff Report
The H&R Block office located on Queens Boulevard has closed for good.
The owner of the 44-03 Queens Boulevard office moved out Saturday and now the 1,500 square foot space is empty.
Nelson Yadgarov, who is renting the space, said that H&R Block typically closes every April once tax season ends–before reopening in December. This time, he said, it’s gone for good.
The space is renting for $6,300 per month, Yadgarov said.
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It will be replaced by a hair salon
No, I have a client in mind
This is just beginning of the rent hikes apartments in sunnyside now are 3000 a month and business are at 10,000 a month hope we get some chain stores to balance the rent.
Get ready to see a lot more vacant storefronts. Nonna pizza on GP forced out after 1 yr lease bc can’t pay new rent of $6k or more per month, and for what(?) a dinky little space the landlord hasn’t seen as many people come in/out of since the 1950s? I could give many more examples but instead I will say this… Every informed landlord (by that I mean – understands city trends and gentrification) with retail in the SS WS area is primed to say “NO” to you. They’d rather sit on empty space while the market appreciates THEN lease out for 5,7, or 10 years. My advice to small biz? Always think long term, LOCK low or market rental rates in as long as you can. Getting out of leases when you’re paying below-market-rents is not a problem as long as you don’t secure it with a personal gaurantee, So stick to LLC and don’t sign leases with personal liability clauses, always have lawyer review lease, and keep escalations low or equal to CPI (2-4 % per year). Step ups in rent (2, 4, or 6 dollars per SF) after milestones like 3, 5, 7, or 10 years is fine, but make sure you anticipate those increases and answer them with greater sales. Always negotiate negotiate nogtiate. If that fails, tell them you have other offers and shop around. The best partner in your retail business is your landlord. The more they bend, the better for biz. Google “Buschwick gentrification” and understand why and how fast it can happen. Won’t happen as fast here in SS WS but the pressure (in form of higher apt rents) will happen over time (1-5 years). Retail rents should spike harder / faster than residential. Plan. Plan. Plan. Best advice anyone ever game me in life was (still is) “always have a plan and stick to it”
That’s all great, but some of these places are closing in on 3 or 4 years vacant. Seems to me that a 5 year lease at a slightly lower rate would have worked out better. Having a ton of vacant eyesores around can’t be good for other potential small business owners looking around either. Probably why 48 ave/46 street, and 47 ave/39 st manage to get new businesses while actual thoroughfares in our sleepy town like queens blvd, greenpoint ave, and 43 ave have a high vacancy rate.
These are great tips for small biz. Would you be interested in speaking at a Sunnyside Chamber of Commerce meeting on the topic?
If your concept sucks and you don’t know how to operate a business it doesn’t matter how much you negotiate
Perfect example would be Steinway St in Astoria
$6300 on Queens Blvd is a good deal considering that wasn’t it posted that Nonna Gina’s was like $6500 on Greenpoint?
Seriously though, crazy rents for such a small neighborhood, with so many empty store fronts.
Speaking of empty, why does the owner of Dazies let that abandoned crap hole next door sit vacant? Could she at least make the facade presentable?
Why does the owner of Dazie’s need to make another storefront presentable? Do they own it?
Yes.
I agree. It’s a joke how bad that storefront is. There is broken glass that children could touch right behind the security gate. It’s only a matter of time before some curious kid sticks his/her hand in there.
Another empty store on queens Blvd . So many empty stores. Very sad
I’m disappointed…. have been going here for years to get my taxes done.
They’re moving to a nearby location so don’t worry