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by cpersona 394 days ago
I would add another metric: how are businesses doing since the change? I was walking around the city on a Wednesday evening and it was utterly eerie how empty it felt. This past weekend seemed to be the exact opposite thanks to the nice weather, but I haven't seen that level of emptiness.

I notice empty storefronts and anecdotally, I feel like there is an increasing number. I have a friend who opened a store downtown just before this happened. I don't dare ask yet, but I can't see it being a benefit for small businesses.

2 comments

Empty storefronts in lower Manhattan have become more prevalent especially as Walgreens has been downsizing their Duane Reade locations and banks have reduced branch numbers. Historically I've heard that landlords try to hold out for high rent paying large corporations but in the past few years there are less and less of those tenants. Also I'm sure it's tied to the 10 year lease renewal/rent increase cycle.

Anecdotally, I notice a lot more foot traffic in Fidi than last year and far less traffic when I do need to take a taxi or uber. It seems like greater foot traffic would be a benefit for your friend's store unless it's a destination store that sells large products (furniture/appliances/etc).

Believe it or not, cars stuck in traffic is not a good indicator of how well businesses are doing.

https://www.governor.ny.gov/news/traffic-down-business-gover...