LoopNet Community -COMMERCIAL REAL ESTATE BROKER
james turano 33 YEARS OF EXPERIENCE
"important news update...March 19th.. Exclusive by Veteran Broker, Jim Turano, of Diverse Real Estate, 73-01 Metropolitan Avenue. *SERIOUS PROBLEM*- Right now there is a vast decay of Business with many current Business Owners in Middle Village, regarding a Big reduction on Business Income. I frequent many Stores and speak to the owners quite frequently. I try to keep a pulse on the Community which is a must if you are to be a Unique Professional Real Estate Broker. I may be the only Broker in the entire Community to do this year round. However, you must be ahead of the curve to be that much more of an expert in the field of Real Estate. Between the high rents and taxes, along with electric bills,water bills, and employees, many once thriving Businesses are going down big time. Some of the biggest long established Businesses that are frequented by residents without naming them, are hurting financially. The few who are surviving are the ones who own their own buildings where they conduct their businesses. The others are literally drowning in debt. On Metropolitan Avenue, there are 10 establishments now empty/vacant or for sale! There are ongoing businesses that are near going under as I write this article. Look at where the Big Drug store used to be, on Metropolitan Avenue, formerly the Arion Movie theatre. Empty for almost 4 years now because the rent is $22,000 dollars per month. Yet the chain that is obligated to the lease can not and has expressed to me that that can not rent to another Drug Store chain? No Parking, Rent $22,000 dollars, without all the other expenses. (MY SUGGESTION IS TO TURN IT BACK TO A MOVIE THEATRE) This hold true to the surrounding areas as well. Woodhaven Blvd. from furmanville to 63rd. avenue starting to look like a ghost town. Upper Glendale from McDonald to woodhaven Blvd. is like the Dead Sea. Trying to make a go in Business on that stretch of Myrtle Avenue is the asme as trying to walk through the waves in Rockaways. Grand Avenue area, many owners of Businesses are hurting, many have Landlords who do not upkeep their buildings, tenants forced to leave due to leaks from Roofs, or slowdown of Business. In conclusion, whether you own a building for years, or you own a House for years, when the time comes to get the right Market Analysis on the Evaluation of your Store, or Home, you need an Expert to properly give you the Best Opinion possible. Just as if you need an operation, you want a Specialist with experience to correctly perform the procedure as if you are having surgery. *THIS IS HOW IT MUST BE LOOKED AT.* I have 33 years of Experience, with over 3,000 written appraisals to date, and even testified as an expert witness in State Supreme Court on Appraising. I keep records of per sq.ft. rentals in the Community for over a decade. And probably the only Broker who has these type of records. Yet in general, everyone thinks they are the experts, and want to do everything on their own, which they have a right to, but it always has an adverse effect on them. That goes for apartment renting to. They advertise and the bulk of calls they get are people being asked to leave for non payment of rent,etc.. I have written many articles for decades,which you can easily find on GOOGLE. But the sad fact is, there are big changes forthcoming, which will affect each and everyone in this Community and all the surrounding Communities soon. ALARMING BUT TRUE. DON'T BE SHOCKED WHEN SOME OF THE STORES YOU NOW FREQUENT START CLOSING UP. HOME VALUES WILL BE AFFECTED BY THIS. AND IF RESIDENTS DO NOT PARTICIPATE IN FREQUENTING NEIGHBORHOOD BUSINESSES, INCLUDING REAL ESTATES LIKE MINE, THEN KISS THE NEIGHBORHOOD GOODBYE!"
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