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With epic number of vacancies, one Newbury Street landlord still wants huge rent increase
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How very Downtown Crossing of them
And the cycle repeats itself...
Empty R Us
What, you don't like the empty Barnes & Noble storefront??
I see opportunities
I just need a few properties on the Newbury Street, board them up, bring down the values of neighboring properties, buy those properties for a song, and repeat. Eventually I own much of Newbury Street, and my grand Renaissance may commence.
Same deal with Downtown Crossing. That's geographic gold, once I own the property and the city is bending over backwards to let me develop it how I want.
Is your name...
Talanian?
C. Talanian Realty Co.?
http://www.ctalanianrealty.com/about.asp
Are they letting properties sit vacant?
The Lord of Newbury
They basically control the street - one corner (I think Dartmouth) is honorifically named Talanian Square. They are challenged now by Anglo Irish bank that owns a lot of other properties (they are identified by the beautiful wreaths at Christmas time that are on about 10% of the addresses). Part of the problem is that if you own that much property - it won't sit well with your existing tenants if they are paying $75/sf and you offer a new guy $50/sf. So I don't know if it's specifically them - but they are probably eating it on 10% of their properties so they don't tick off the 90% that are paying older and higher rates - only a guess.
Ah, well
If they already own it, no need for blockbusting, then. :)
photos speak volumes re Newbury St
It's worth a half minute to click and scroll through those photos -- they really nail the point. I rarely shop on Newbury St, so this came as news to me.
Downtown Crossing redux, indeed, and more evidence that the retail zones in the heart of the city are in big trouble.
Maybe this will help focus the issues for the Mayoral candidates and the phalanx of At-Large City Council candidates.
This is what happens when
This is what happens when you only focus on the ultra wealthy high class crap.
If hard times hit, the slightly wealthy and middle class that still make up the bulk of your buissiness leave.
And then a few big purchases now and then won't keep you store afloat.
The bulk of business on Newbury St has always been middle class visitors indulging themselves.
"back in the day"
I can't believe I've been in Boston long enough to use that phrase, but not too long ago the west end of Newbury Street had a much more affordable array of stores, like Avenue Victor Hugo bookstore and Tower Records, and little basement-level shop that had great items for history and nostalgia buffs. Now those places are gone, and I rarely bother going to Newbury, as there's really nothing of interest to me.
And that's not all
As you probably know - I live in the Back Bay. I had a tourist stop and ask me where to go to eat for dinner. I scanned my mental rolodex of restaurants based on what he told me he was looking for and every place I mentioned was in the South End. I almost never eat on Newbury Street or Boylston any more. JP, South End and Rozzie - better food and better prices.
I leave Newbury Street to the expense account crowd and the tourist not observant enough to stop and ask the guy with the grocery bags in hand where to go for dinner!
Wait a minute
Where are you sending them? Aside from Foleys I live in the S End and never eat there - I go to the affordable places in the Back Bay. hmmmm
I second your comment. There
I second your comment. There are more affordable Back Bay restaurants than South End ones. Cafe Jaffa - good Middle Eastern, Trident - also an independent bookstore, Charley's - awesome burgers and nice patio. Just to name a few off the top of my head.
My faves
I'm talking sit down and I like ethnic - you pretty much can't get that in BB any more except Kashmir (good food - very expensive). Ate at Bhindi Bazaar a few days ago - very disappointing after prior good meals. A few of my favorites around the city:
South end -
Red Fez
Pho Republique
Taranga (good food - needs work on their operations)
Myer's and Chang - need to get back there!
As for more conventional food -
Italian - Giacamo's - not as good as N. End - but good
Stella's
Beehive
for a little nicer I'll hit Banq or Union
for pub I'll go to Cleary's before Joes - never go to Charlies but will do Pour House for breakfast
JP - Bhukara yum - and decent pricing
Rozzie
Delfinos (pricy - but cheaper than BB and probably the best Italian meal in Boston)
Village Sushi - very good reasonable japanese
Geoffrey's - my opinion best pub value in Boston
Not as keen on the Bistro and had a terrible experience servicewise at the Grotto last week.
What's "affordable" good sit down in the BB that's not a chain?(I'll grant you Rattlesnake which has gone a little foofie with the whole George experiment and Parish)
Cafe Jaffa - Middle Eastern, affordable and delicious
South End is very expensive and pretty much everyone that I know who lives there agrees that the restaurants are pricier and more upscale than Back Bay.
I'll give you Cafe Jaffa
Been too long since I got over there for a meal. Half a notch down is Steve's Greek - not much ambience but really good food for a good price
Still looking for a place in Back Bay that I'd send someone looking to experience Boston's modern (and much improved) food scene that isn't in the price range of Sel de la terre, L'espalier, Clio, Sonsie,(they should be honest and call it noisie), Capital Grille, Abe/Louie's, Stephanie's (good food but amazed to see what people pay for meatloaf in that place) or formula food like all the Back Bay Restaurant Group stuff plus the chains.
Perhaps points to La Voile (good alternative to Petit Robert if you like French Bistro-full disclosure - the manager lives in my building and is a nice guy, Tapeo's and the hidden gem of Casa Romero.
I'd recommend La Voile to an
I'd recommend La Voile to an out-of-towner -- recently had one of my best meals in Boston at La Voile on their outdoor patio. Casa Romero is great. I'm not crazy about Tapeo, but I do like Bar Lola for tapas. Newly renovated Corner Tavern on Mass. Ave. has surprisingly decent food for a bar. I like Sonsie's food and I don't think the prices are bad, but the scene is a bit much.
South End
South End is great if you prefer gentrification. I used to have breakfast at Metropolis until the snob factor got out of control. Who wears pearls and furs to have eggs on a Saturday morning??
Shhhh -- don't tell them about the Red Fez!
One of my favorites and it's amazing to me how many people who live in town never heard of it or don't know where it is...
Affordable Back Bay Eateries
I enjoy Newbury St., it's a fantastic place to people-watch and you can always find something fun for $5 at Marc by Marc Jacobs. And as a student, trust me, I know some of the absolute cheapest places to eat although they might not fall in the glamourous category. :)
On Newbury St. or within walking distance not already mentioned by others:
Thai Basil/Chili Duck (same owners) - excellent Thai
b.good
Spike's Hot Dogs
Subway
Starbucks - try egg & cheese for $3
Wendy's
For dessert I recommend J. P. Lick's or Sweet Cupcakes, which also sells small containers of their frosting for $.25.
My absolute favorites are Trident, meet my friends there all the time, and Steve's Greek. They have the most amazing pita bread.
Karen Zgoda
http://www.karenzgoda.org
http://www.fussy-eater.com
http://editmymanuscript.com
I'm with you
I too usually direct the tourists toward the South End for places to eat versus Back Bay, especially away from Boylston Street. Of course, I throw in a reference for some of the places near the Convention Center in Southie for good measure -- gotta get more tourists to my neighborhood somehow! BTW after putting it off for months finally had lunch at the new Stephanie's in the South End; overall it was very good, but don't bother waiting in line for a table. My friends and I grabbed seats at the bar -- bartenders were friendly and good people watching.
Storefront churches
The storefront church that opened across the street from me -- after the property owner couldn't keep a tenant in the retail space -- has been having a lot of amplified late-night marathon revivals. They must be raking in the tithes. Now's their opportunity to upgrade their digs to Newbury St.!
middle class visitors indulging themselves
Before you condemn the middle class that shop on Newbury Street, you might want to actually know what you're talking about. 20 years ago Newbury Street may have been dominated by upscale retail, but that hasn't been the case for many years now. The Gap (now vacant), H&M, Filene's Basement, Borders bookstore, Newbury Comics, Pottery Barn and Best Buy are not what one would call indulgences. These are the same stores you'd see at malls in any middle-class suburban town.
Harvard Square's looking a bit threadbare, too
Notably prominent vacancies:
former Alpha Omega Jewelers (right next to the T station)
former WordsWorth Books
former Crate & Barrel on Brattle Street (lots of empty glass display windows on multiple levels of a great modernist building)
former Bowl & Board (at Putnam Ave)
reverse gentrification, sans benefits
I know that people are generally free to charge whatever rent they want for their commercial storefronts, but when they jack up the rents so high that they are contributing to the emptying out of popular commercial areas, something is very wrong with our tax & incentive structures.
This space won't go empty
Restaurant - North side of street. Almost impossible to replace under current zoning/licensing and VERY lucrative. I'm sure there will be a negotiation, but I'm also sure the landlord will easily get what he's getting now and probably an increase. I love Boloco and hope they can stay and keep lunch and a drink in the $6-$8 range- but the landlord has a rare and valuable commodity. If it were retail, the tenant may have more leverage - restaurant - not so much.
Here's a vacant Newbury St.
Here's a vacant Newbury St. (north side) restaurant spot that's been vacant for quite a few years since the departure of TGI Friday's to Brigham Circle: google maps streetview.
Sold
Back Bay Restaurant group bought it a while ago and has been trying to get architectural approvals, licensing etc. They are losing the lease on Joe's American and moving down there (at least that's the rumor) - Metropolitan out of Brookline is moving into the old Joe's spot.
Took a while to find a new tenant due to architectural/permitting issues and some other things (very difficult operational issues due to the set-up of the location-wasn't exactly designed to be a restaurant).