70°
HARTSDALE, N.Y. – Nestled between a CVS pharmacy and a Clearview Cinemas movie theater, a dusty "For Rent" sign still sits in the window of a Greenburgh Shopping Center building.
The empty building, 93 Knollwood Road, seems out of place next to the strip of bustling stores nearby, which include an A&P supermarket and a Dunkin' Donuts. The 3,200-square-foot space has been vacant for almost a year now, said Sam Jemal, Greenburgh Shopping Center property manager.
"It's a good location. near a CVS and the A&P, so it can attract customers that go to those other stores," Jemal said.
Some frequent customers of the nearby stores said they are tired of seeing the "For Rent" sign and hope the space soon becomes something useful, such as a place to get a quick bite of healthy food, a Clearview Cinemas employee said.
Judy Schreier of Hartsdale also offered her suggestion.
"A good deli. There's not enough of those around here," Schreier said.
The space was formerly filled by Community Mutual Savings Bank. When it was relocated, Hartsdale resident Mary-Anne Keller said, she hoped it would be replaced by another local bank.
"I wanted a Chase Manhattan bank. There aren't any close to where I live," Keller said. "That's what I would vote for."
Jeff Kapelus of Scarsdale also agreed that the center could use an area with an ATM. Kapelus said he usually brings his children to the shopping center right after school, and a bank would be a perfect fit to the strip of stores, especially because "there's definitely enough restaurants."
Jemal added that he has received a few offers to fill 93 Knollwood Road, but "nothing acceptable."
Comments (3)
What about the several vacant storefronts in the Crossroads Shopping Center on Tarrytown Road?
I don't get it. What is the purpose of this article?
To lobby for a Chase Bank branch (which previously occupied the Dunkin' Doughnuts space) because the Chase Branch a half mile away on Tarrytown Road isn't close enough to where someone lives? Or to heed what a Scarsdale resident thinks would be good?
How do you arrange to get a "good" deli? Apparently the deli at the Staples strip center a quarter of a mile away doesn't qualify nor does the bagel store in the Kmart shopping center. Nor does the deli department in the A&P.
So much for interviews with "locals".
But why does this article exist? Are readers to expect forthcoming articles about every vacant store? Great way to meet a quota for stories but hardly the equivalent of newsworthy stories that don't appear on this site. How come the Daily Voice has not written about the July 4th weekend theft of 19 laptops from the Theodore Young Community Center? Because it was likely an inside job and thus covered up by the Town?
Even this article as it appears is lacking important information if residents are to be queried about finding a suitable tenant for space they don't own. Is the space really 3,200 square feet of ground level or does it include basement storage space. I don't see either 32 feet of frontage or 100 feet of depth. As for turning away prospective tenants, readers need to understand that this is the right of landlords to do because, it is their property. Keeping space vacant to get the deal the owner wants is what real estate ownership is all about. For properties being set up for resale or financing, the actual rent roll is a key element: if buyers are willing to pay a multiple of rent, say 10x, that means for every dollar of rent $10 in sale proceeds are realized. Getting $40 a square foot in rent vs a quick deal @ $30 a foot means an additional $320,000 in proceeds were the property to be sold. Certainly a greater payoff than taking the lower offer despite the risks involved. But for space and time, I admit that I have oversimplified the possibilities but there are other considerations involved including combining units to market a larger space and attract a higher rated tenant, etc.
None of these game plans are considerations however in the Town's decision to market its own property: the former Frank's Nursery a mile away. Here the Town had purposely chosen not to market the property properly and, as a result its 90 day proposal intake period netted but one offer to lease, the eight story sports bubble. An offer which the Town Board voted to accept and included a "sweetheart" land lease for good measure. Since taxpayers would directly benefit from greater revenue were the Town less hasty, the real cost to nearby residents who tire of seeing "for rent" signs is more traffic and the loss of around $100,000 in annual rent now left on the table.
Hal Samis