Economic Realities hit BayRidgistan: Part I–the Bay Ridge Commercial Strips

Since the national economy tanked early in 2008, Bay Ridge, and its surrounding areas, have slowly but surely been feeling the impact. Foreclosures  are happening left and right (one on this writer’s block, one another block away, and another another 3 blocks away). But perhaps most challenging for our medium and moderate income neighborhood is the tightening up of people’s wallets.

Ed, a local store owner explains it as, “people just don’t wanna spend money–it’s very simple”.

The many “small-town” niche stores and eateries that had previously done well enough in the neighborhood now find themselves struggling to stay afloat.

As one deli owner on 3rd avenue told us, “water bill just went up, electricity is up… if i told you how much I have to make a month just to not go bankrupt and keep my refrigerators working you’d tell me I’m crazy.”

Maybe.

But after a two day survey of 3rd avenue and 5th avenue in Bay Ridge, our reporting team found over 25 vacated or vacating storefronts.

Perhaps the most unfortunate block of all is 3rd avenue, between Bay Ridge Avenue and 70th street. Here we found four empty store fronts. The remaining stores are niche food services, a used goods store, a deli and the famous fresh-bread Cangiano’s. With the exception of the Second Hand Goods store, all other businesses on the block could in some way be threatened by the pending July opening of the Key Food on Bay Ridge Avenue.

–additional reporting by N. Zide