Posts tagged small business
New York’s Old Industrial Spaces Are New Again

One huge problem facing small businesses in New York is the shrinking amount of industrial space. As described so perfectly in Curbed recently (if you haven’t read it, really go read it now), a lot of industrial space has been re-zoned residential. This is happening most noticeably in the Williamsburg/Greenpoint area.

When this happens, the natural step for landlords is to increase rents, which prices out tenants, and for some that means closing shop because they can't find comparable rents. 

Of the small business owners I’ve talked too, especially those who need industrial space, finding affordable space is the biggest obstacle to launching a business. Because of the development climate and potential for rezoning, owners don’t want to enter into long term leases, which makes it even harder for emerging businesses. They may find a space, only to have to find another two years later.

The pro-housing development policy of the Bloomberg-era is having an unintended effect on small businesses.

Read More