Dumbo NYC

Finally!

I really hope this one goes through...

This is wonderful! A welcome addition to our neighborhood. A win win for everybody!

Oh great...a boutique pharmacy...with overpriced everything..another fine Walentas project. When will these guys get a grip and stop pretending that they are doing anything "good" for the hood??

The j condo space is not two tree's property so although Walentas might have created the buzz for the "need" for a high end pharmacy, ultimately it's not happening in one of his buildings.

If you did not want overpriced everything, you moved into the wrong neighborhood. You should be in Williamsburg.

A good number of us already lived here long before it became "overpriced everything." It didn't HAVE to become "overpriced everything." Alas, it did. Our only options now are to either put up with it or give it over to you (the general "you"). And while some of us might be willing to put up with it for now, it is not without a bitter taste in our mouths. I, for one, agree with Paul's sentiment.

Welcome to DUMBO!

Hello, nice blog

Very good information!!!Thank

J.H., there are lots of retail spaces in the neighborhood available for rent (look around, there are signs for rent on every block). why not open a store and sell things at prices you want to set? if, as you say, there are lots of people like you who would shop there, then you'll make lots of money doing it and you'll make the neighborhood a "better" place as well. alternatively, since most of these local stores rely on and want local business from the people who live & work here, talk to them about carrying some of the items you want and mention the prices you want to pay. some of them might be happy to carry some of your items at your requested prices if they can make enough money in volume off of it to be worth their while - it wouldn't hurt to mention how many others you can guaranty them would buy those items at those prices. in other words, instead of just whining about how things are changing, do something about it.

I'm quite aware of the retail space available in DUMBO. I have researched it pretty extensively. I already rent two spaces myself. They are not "retail" spaces as that is not the nature of what I do, but I have looked into them and they were overpriced. The rents being charged on these retail spaces limits the kinds of businesses that can successfully operate in them. So, no, I won't open a retail store here and sell things at the price I would prefer to pay myself because that business and I would likely lose money. I wouldn't be able to cover the overhead no matter how many people were coming through the door. Obviously, this area doesn't come near the foot-traffic friendliness of most central parts of Manhattan and charging rents as if it DOES isn't very pro-business, which is probably why you see so many of those pesky "for rent" signs...

"If, as you say, there are lots of people like you who would shop there, then you’ll make lots of money doing it and you’ll make the neighborhood a “better” place as well." I'll check above, but I don't believe I said anything like that.

All said, tomorrow I will go to the local existing stores and tell them what I want to pay and guarantee that everyone else will want to pay that price, too, and see how far that gets me. Thanks for the advice!

it's more than just asking the local stores if you can pay what you want. It's asking them to carry lower priced items - such as if the new pharmacy only carried Frederick Fekkai brand shampoo at $15/bottle and you want Herbal Essence at $3/bottle, then you can ask them to start carrying Herbal Essence. My feeling is that if enough people buy the Herbal Essence, then it will make sense for them to start carrying it, because they can make $ off it and they generate neighborhood goodwill. Since they still have to make a living and pay their bills, I'm not suggesting you ask them to discount the goods they're already carrying to a price you want to pay.

And rents in the neighborhood aren't anywhere near what rents in Manhattan or even other parts of Brooklyn are. Manhattan retail right now is out of control - $1500/sf on 5th ave., $400/sf on Bleecker St and $100-$200/sf in Tribeca. Downtown Brooklyn, Montague St. & Smith Street that I've seen range from $80-$150/sf. Rents in Dumbo are $25-$55/sf. Yes the foot traffic is less but the rent reflects that.

What exactly do you want to see happen here in Dumbo? No more capitalist system? Landlords should on a charity basis set rents lower than market rent and not accept offers from any tenants who would pay that low rent or even more than that rent if they are going to carry items that are expensive? You're not going to find a lot of landlords who will be willing to turn down money like that and let spaces go vacant while the mortgage & taxes are due & payable until they find the right tenant. David Walentas is as close as it gets in that he's turned down banks, real estate agencies & chain pharmacies regardless of what they've offered to pay him and he's given charitable deals to some arts groups, etc., but he's not typical, most landlords will take the highest rent they can get from whoever will pay it. If you owned a building and you could rent it out to whomever you want, are you seriously suggesting that you wouldn't want to get market rents, that you'd pass up more money to get the right tenant and beyond that, you think you can get this perfect tenant to agree in the lease not to sell items above a certain price point?

and as a follow up, to the artists and the others who "pioneered" the neighborhood and are now upset about the new rents & prices - how many of you sell your art (or whatever you do for a living - sell your services or your goods) at prices below market so that others in your income bracket and lower income brackets can afford it - or do you all sell your art & your services at what the market says they're worth (and maybe give an occasional donation here and there to a good charity)? and if you did well and became very wealthy and sold your art, goods & services for more money than you needed to pay your expenses, how many of you would then reduce your prices below market rates to make your art, goods & services accessible to people who are in the lower income brackets?

Oooh this is exciting. No more walks to Duane Reade on Montague!

Is it just me or is this project dead? Seems like no work has been done on this space in months.

Bridge Apothecary @ 104 Jay St. is scheduled to open any day, they are just waiting for a state license. There will be a fully stocked pharmacy dept, full line of health and beauty aids, cosmetics, great toys, huge vitamin dept, candy, greeting cards, stationery, household products... you name it! Spoke to the owner... can't wait!

This is very exciting, but I hope they plan on carrying some popular drugstore brands (i.e. Dove, Suave, Neutrogena) and not all overpriced organic specialty products!

I agree with Hopeful. We've got enough price gougers in this hood.