Topic:

Vacant Village

Vacant Village

Series of High-Profile Retail Closures in Village Points To Momentarily Stark Reality

Shuttered location of Pet Central  at 237 Bleecker Street (credit: Lauren Elkies Schram)

In the world of real estate, as in life, perception is in the eye of the beholder.

The retail market in the West Village and Greenwich Village is no exception, as neighborhood staples close due to rising rents, leaving spaces vacant and landlords searching for high-rent-paying tenants. While neighbors may find the shuttered shops to be eyesores and longtime retail tenants may find the skyrocketing rents unfair, many brokers leasing those spaces are saying it’s due to a hot market and the changing nature of the neighborhood. Read More