Upward rents for Court St. lead to businesses moving elsewhere
High rents and puzzling delays may cause entrepreneurs looking for a Court Street storefront to settle elsewhere, though some spaces have been leased at or near their asking price.
Take Kevin Barry, who had finally recovered from the loss of Grandma’s House, his South Street Seaport restaurant that was destroyed by Superstorm Sandy. Barry was hoping to reopen at 384 Court St., where Casa Rosa recently closed after three decades. The property has been sitting vacant since late 2013 and its 4,700 square feet seemed like a good fit, but the $24,999 per month asking price made him recoil.
“It’s just outrageously high,” Barry said. “There’s a Chase Bank across the street. Maybe they’re hoping for something similar.”