Another Greedy Landlord Destroys an Institution

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CCinNJ
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Re:Another Greedy Landlord Destroys an Institution 2013/02/11 08:59:22 (permalink)
A good tenant was there for 53 years.

That meant NO idle property or costs associated with turnover in all that time...with a successful tenant. That alone has saved a fortune in money & headaches.

A good tenant is not simply the latest one who agrees to pay the asking price. There are plenty of them who eventually don't....or fail....putting a landlord on a turnover carousel of risk - turnover - court - expenses to list/fix/modify for future chances.



Ice Cream Man
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Re:Another Greedy Landlord Destroys an Institution 2013/02/11 09:40:04 (permalink)
Every dog has it's day. Good tenants do go bad even after 53 years. Not to many same owners after that much time, sons and daughters that destroy passed relationships and businesses.
Do you know most businesses fail within 5 years, the next big time is 20 years, that's when dad or mom turn it over to the kids.
CCinNJ
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Re:Another Greedy Landlord Destroys an Institution 2013/02/11 09:52:11 (permalink)
Most businesses do fail. I don't know what good sense it makes to bank on Lenny's Deli vs. the 53 year track-record of the family business...that spared such turnover for decades.

It's a much more complex market vs. the market of rest of the country...or other countries. That's for sure.
bartl
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Re:Another Greedy Landlord Destroys an Institution 2013/02/11 11:47:30 (permalink)
Here is a situation that is, unfortunately, not at all uncommon.
 
A neighborhood is in the pits. It is very difficult to rent out storefronts. But a businessperson with a good idea moves into a store. And the idea works. And brings people to the neighborhood. The neighborhood becomes desirable. So the landlord of the original business hikes up the rents to the point where the original business has to leave.
 
So, the person who is responsible for the landlord's property going up in value gets kicked out by the landlord. On the other hand, the landlord is not getting the maximum profit out of his or her property.
 
In today's world, gratitude and loyalty is for chumps.
 
Bart
CCinNJ
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Re:Another Greedy Landlord Destroys an Institution 2013/02/11 12:31:18 (permalink)
Nah...a strong sense of loyalty...a good mind for a good fight ...and a rock hard set preserves plenty in the best neighborhoods.. Plenty.
Ice Cream Man
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Re:Another Greedy Landlord Destroys an Institution 2013/02/11 18:18:56 (permalink)
CCinNJ

Most businesses do fail. I don't know what good sense it makes to bank on Lenny's Deli vs. the 53 year track-record of the family business...that spared such turnover for decades.

It's a much more complex market vs. the market of rest of the country...or other countries. That's for sure.

I thought we settled that, Lenny's will pay Juniors decided not to.
Ice Cream Man
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Re:Another Greedy Landlord Destroys an Institution 2013/02/11 18:28:55 (permalink)
In today's world, gratitude and loyalty is for chumps.
 
There is nor has there ever been any loyalty in business.
It doesn't matter how good your product is if another place opens up down the street your customers will try it, especially if it's cheaper.
Then they'll come back and tell you it's crap.
Landlords do raise rents but tenants also move down the street all by themselves. Loyal landlords get screwed by tenants as much as the other way around.
CCinNJ
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Re:Another Greedy Landlord Destroys an Institution 2013/02/12 03:20:11 (permalink)
Indeed. Like the landlord of 1035 Swarthmore thought they had a tenant that would pay...and stay. Hmmm...

Maybe in your world there is no loyalty. This is Roadfood. Many go way out of their way...to have it & enjoy it!

Embrace the Roadfood. You may enjoy it...and find much happiness in it!
post edited by CCinNJ - 2013/02/12 03:58:02
Ice Cream Man
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Re:Another Greedy Landlord Destroys an Institution 2013/02/12 06:27:18 (permalink)
OK.
iluvcfood
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Re:Another Greedy Landlord Destroys an Institution 2013/02/22 21:28:05 (permalink)
wanderingjew

Mar,

After reviewing the article, I agree with Pigiron.
 
If the Kosher Style Deli's are anything like the small handful of deli's left in the NYC area they're mostly relying on tourists for  a culinary treat that unfortunately is taking its last gasp of breath.

 
I just happened upon this article today..........
http://www.latimes.com/bu...130222,0,2585725.story
 
Oh well!  I think in San Diego most of them have closed as well!
 
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