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.