Today is a sad day for Hudson Heights.
After 30 years of business, VIM pharmacy has been forced to close its doors, effective immediately. Years of rent hikes have forced them out; the rent has finally climbed to $30,000/month. The owner, Brad, said he looked for another space in the neighborhood for a year but could not find anything with the size needed and/or an affordable rent. As Brad said, the neighborhood loses the pharmacy and he loses everything. He has sold the remaining inventory to the Rite Aid over on Broadway, allowing him to pay off his bills. He is walking away with nothing.
These kinds of rents are simply not sustainable for our neighborhood! We are at risk to lose other small neighborhood businesses who provide invaluable service and services to our community.
It's sad to realize that the landlords really do not see the true value of the businesses renting from them. Instead they only see dollar signs and the possibility to eventually find a tenant who will pay their rising rents. Until that happens, they will simply write off the loss in rent and we will look at another vacant storefront.
Today is a sad, sad day.
Very sad. Other pharmacies disappointed - VIM never. If I had it to do over again, I'd buy the diapers there too. Diapers.com can never replace VIM. Lesson learned.
ReplyDeleteThis is such a great loss personally and for the neighborhood. A lot of people care about Vim and this issue and are ready to mobilize to protect remaining small businesses and the integrity of the neighborhood. Robert Jackson tried twice unsuccessfully to bring a bill (Small Business Survival Act) to vote that would address this very issue and give small business owners some power when landlords demand huge rent increases.
ReplyDeleteThe end of a legacy has arrived. Vim Drugs is officially closed forever was a great place to work and i love them all they are my family even thou its closed we will always be the vim drugs family i love all of our clients and hope i can continue helping you guys even thou we are no longer here
ReplyDelete-grace , vim pharmacy
I am really sad about this--as are all of us--but I also have a suggestion.
ReplyDeleteI heard through the grapevine that VIM's owner did not think it would do any good to ask the local Councilmembers and other government folk for help; I don't know whether this was just a practical decision, given the low possibility that they could do anything--although Robert Jackson apparently has been sponsoring a bill (in vain) to cap rents on smaller businesses.
I think this is a great idea, and that we should get behind this kind of effort as a community, making it clear to our representatives that we WANT the old-time businesses here to STAY, and DO NOT want some bank or other taking over VIM's space because they can pay that exorbitant rent.
I ALSO think it would be a good idea to PUBLISH a list of landlords for our area, so that we could apply direct pressure if necessary to keep them from pushing their rents sky-high. Everyone wants "growth", but we (I speak for those who agree with me, but I think many do) do NOT want "growth" at the expense of community! Gradual rent hikes that are in accordance with the current situation, NOT some crazy "growth projection" of what one *could* get from a gigantic business on 181st St, is what we are after. I think the landlords need to be held accountable, and we can only do that if the spotlight gets focused on them.
Hi,
ReplyDeleteHere is a petition in response to this city-wide issue of skyrocketing retail rents, to send to Speaker Quinn and Mayor Bloomberg. http://signon.org/sign/keep-nyc-neighborhoods?source=c.em.mt&r_by=6868946
Thanks Mrs. O! We just posted about the petition. I hope it helps!
ReplyDelete