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Montauk, Randy Pierce, Brooklyn discussed on Michael Wallace and Steve Scott

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Community banking from Montauk to Manhattan Joe Connolly Brooklyn chamber of commerce president Randy Pierce says the real estate industry may still be in denial about how much has changed he says almost half of Brooklyn's businesses have missed the may rent so the Brooklyn chamber of commerce president says landlords and tenants have to work something out here and here's why number one in certain parts of Brooklyn and throughout the city we already had a retail vacancy crisis prior to coke right and part of that was driven by oversupply of commercial space the second thing is you're gonna have some percentage of business maybe up to a third of businesses that actually won't come back also they'll be less demand for commercial space and then the third thing is just that you know the virtual nature of work as soon as that we've all been participating in the summit meetings are there's going to be there's going to be businesses that are going to reevaluate how much brick and mortar footprint they really need to operate and they're gonna probably scale back Randy Pierce says landlords have bills to pay to but the market is changed here how Brooklyn businesses are innovating and also how Brooklyn became the leading small business innovation area in the country on the W. C. B. S. small business spotlight podcast on the radio dot com app or at WCBS eight eighty dot com slash spotlight let's say you just bought a house the bad news is your one step closer to becoming your parents you'll probably mow the lawn ask if anybody noticed you mow the lawn tell people to stay off the lawn.

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