Hoboken Retail Real Estate
How bad is retail Real Estate?
Like I mentioned in a recent post about shopping local – I believed that even though the national economy is suffering pretty bad in many areas – Hoboken is probably a bit better off (so far.)
But you still have a commerce center uptown (right near the flooding from this morning’s water main break), empty shops along Washington Street, and Maxwell Place, which is has ever-so-slowly reached a supposed “75% Commit Rate” (including a PNC Bank!)
Hoboken411 reader YipYap mentioned this story in the NY Times, quoting: “But the retail market turned rotten, awful, godforsaken” -Benjamin D. Jogodnik, an executive with Toll Brothers’ City Living division”
The Times piece is positioned as “some sign-ups despite downturn,” but what does that really mean? Is it a “fluff piece” to nudge others into joining them? Or just a way to make really bad news seem not so bad?….
What will it take for the retail economy to recover?