Posted on 08/11/2020 3:26:31 PM PDT by Mount Athos
In the heart of Manhattan, national chains including J.C. Penney, Kate Spade, Subway and Le Pain Quotidien have shuttered branches for good. Many other large brands, like Victoria’s Secret and the Gap, have kept their high-profile locations closed in Manhattan, while reopening in other states.
Michael Weinstein, the chief executive of Ark Restaurants, said he will never open another restaurant in New York.
Of Ark Restaurants’ five Manhattan restaurants, only two have reopened, while its properties in Florida — where the virus is far worse — have expanded outdoor seating with tents and tables into their parking lots, serving almost as many guests as they had indoors.
“There’s no reason to do business in New York,” Mr. Weinstein said. “I can do the same volume in Florida in the same square feet as I would have in New York, with my expenses being much less.”
In Manhattan’s major retail corridors, from SoHo to Fifth Avenue to Madison Avenue, once packed sidewalks are now nearly empty. A fraction of the usual army of office workers goes into work every day, and many wealthy residents have left the city for second homes.
Some popular chains, like Shake Shack and Chipotle, report that their stores in New York were performing worse than others elsewhere, investment analysts said. A few dozen Subway locations have closed in New York City in recent months.
A Gap Store near Rockefeller Center has stayed closed and has not paid its $264,000 monthly rent. Two T.G.I. Friday’s in prime locations, one near Rockefeller Center and another in Times Square, have remained closed while its restaurants elsewhere in the country have reopened.
Landlords have started filing lawsuits against commercial tenants for not paying rent, accusing some national brands of trying to take advantage of the crisis.
(Excerpt) Read more at nytimes.com ...
The job in the big cities was to minimize losses. Probably still the same way today.
So that is one of the ways the big urban centers are subsidized by everyone else.
Not reborn, infested. This already happened to Vermont, now the land of Bernie.
Rural America was devastated the last 30 years now it is going to be reborn.”””
don’t know who came up with THAT assessment——
I have lived rural for the past 27 years & I NEVER felt like I was living in DEVASTATED circumstances.
We certainly don’t need an influx of city slickers where I am now.
According to the John Hopkins Covid Map, the current incident rate in NY is ~2,170 per 100,000 people; in FL the current rate is 2,530 per 100,000. So yes, technically, FL is slightly higher than NY. However, FL at its worst is not even close to NY at its worse, even though NY killed its economy (and senior citizens) and FL has not.
The virus gives them an excuse to pull out of NYC, without taking the heat of telling the truth regarding why they’re leaving. Hard to blame them.
Happened years ago, now we are looking at the tenth wave. All the new vehicles and faces I see when I leave the compound. Real Estate is off the hook hot right now. People are fleeing. Makes me want to bug out. Bringing their ridiculous politics with them to further wreck this state.
Low fat yogurt is still around and there’s a Mendy’s in Rock Center.
I wonder if Tom’s Diner is still there?
Oh, and Play Now, Kruger Industrial Smoothing, Sanilac, Penske, Leapin’ Larry, the other coffee shop (not Monk’s), the gym with the strict policies about wiping down equipment and not peeing in the shower, the Chinese Restaurant, and the multiplex that showed Rochelle Rochelle.
Yes, it’s still in biz...but since we still have no indoor dining, it may be closed. Unless they threw tables in the bike lanes like every other restaurant.
We’ll know it’s all over when Bergdorf-Goodman becomes a Dollar Tree.
So sad, NYC used to be a great town. It had a brief resurgence when Giuliani cleaned it up and a was very pleasant place to visit in the early 2000’s. At its peak it was living symbol of America’s greatness.
When all the stores close and truckers won’t come into the city due to the mobs, the mobs will head for the suburbs where the stuff is. Be prepared.
I enjoyed visiting NYC a few times. I won’t visit it again until it’s fixed. And I’ll no longer use my large nifty New York Starbucks mug.
And kit’s not forget Papaya King!
Tons of renters are leaving.
New Headline
“Trump leaves Manhattan, town goes to hell, without Trump telling them too”
LOL! I still use my Hangzhou Starbucks mug every day - even though the chances of me going back there (or being allowed to) ever again are extremely remote. Use your NY mug - and remember how Giuliani's city was before his successors killed it. :)
[Babu’s Dream Cafe]
They went out of business because the shrimp is a little stringy.
[the other coffee shop]
You couldn’t get a big salad there (they bring you two small salads) and there were no egg-white-only omelettes.
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