Posted on 01/25/2021 1:08:42 PM PST by ChicagoConservative27
The rolling wipeout of beloved New York City restaurants, which claimed the fabled 21 Club two weeks ago, might only be getting started.
And as painful as it would be to food lovers, it would hurt landlords even more as retail vacancies of all kinds mushroom in each of the five boroughs.
(Excerpt) Read more at nypost.com ...
landlords that voted for Cuomo, Hizzoner and Biden? Cry me a river.
Yeah, a whole lot of property for the Chi-Coms to buy up for a song.
As soon as the epidemic abates, hundreds of people who have always wanted to open a restaurant will jump in.
The restaurant industry in NYC was always highly competitive, due to the large numbers of people who fancied themselves great chefs. They have not disappeared, and during the pandemic they have been saving up large sums of money.
That’s a good and optimistic way of looking at it. Thank you!
how about all the landlords who cannot evict??
All communist enclaves should suffer the consequences of their actions...
Everyone blames “Covid” but Covid just sparked the fire.
high prices, high taxes, and a corrupt socialist mayor who has supported riots and looting and caused very large drop in quality of life in NYC are the real cause of the decline of NYC
You seem to be overlooking the single biggest reason why these restaurants are closing down permanently: With all of the NYC employers now operating with their employees working from home, many of the people who used to be customers at these restaurants are never coming back.
I think you’re being super optimistic. I love your enthusiasm, but I think it will be a couple of years before NYC returns to its pre-CoVid self.
That’s a good and optimistic way of looking at it. Thank you!
plus business travelers have dropped off
Hey. But landlords are evil and all deserve to be put out of business, right?
Right?
But Leftists think nothing of it, due to their “Stage One” thinking, as Thomas Sowell puts it.
It is why every damn single detrimental effect of their polices is “unexpected” to them.
These are the people that kill all the predators off, and are surprised when the deer and elk populations explode disastrously, eating all the vegetation, causing them to get sick and starve, while the Leftists that did it scratch their heads.
Cuomo says 2025, if you can believe him I also have a bridge for sale: https://nypost.com/2021/01/20/gov-cuomo-ny-job-market-wont-recover-from-covid-until-2025/
“Fallout from commercial estate is going to a nightmare.”
My brother has a commercial office building he built 10 years ago.
He still owes on it. 2 of his 5 tenants have moved since covid when their lease came up. One other has said once the lease comes up next year they are not renewing because 80% of their staff now works from home.The remaining two are smaller and their monthly rent will not even pay his mortgage payment.
His mortage payment is $21k per month. Property tax is over $50 k per year and he has total of $75-80k per year in expenses including property tax but not the mortage.
He is a multi millionaire but will never recover the losses from this office building.
“Yeah, a whole lot of property for the Chi-Coms to buy up for a song.”
Let them have it. The reason we have cities is it was where businesses were. That meant people could move from the farm to the city, get a good paying, reliable job and live much better than on the farm. But our civilization has changed. We have already left the information age and entered the connected age. For the first time, anyone can set up a face to face meeting over the internet. Those buildings in New York are all obsolete. Office towers in New York with a capacity for 10,000 people are down to a few hundred. Because of the insane policies in New York, those companies have moved out. Probably fifty percent of their employees are now working from home or in non income tax states. The cities as we knew them are finished.
I’m amazed Trump “Miss Me Yet?” billboards aren’t springing up all over NYC...
I watch travel shows. Saw one recently about quirky restaurants in Brooklyn. People were mask-less and milling around happy-as-you-please. This was 2018. Not anymore.
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