Video store on Washington Ave

810 Washington: http://www.brooklynian.com/discussion/38020/will-810-washington-ever-become-anything/p1

816 Washington will be stuck under the end of time, because the property must become rent stabilized housing as a result of the landlord being um, "strongly suspected" in the fire that destroyed the rent stabilized building previously on the site. As I understand it this restriction can not be lost by selling the lot to parties uninvolved.

Time to add some better photos:

Former(?) Kareem deli is now gutted, and getting new facade. Good bye plexi glass.

Be still, my heart.

Former(?) Kareem deli is now gutted, and getting new facade. Good bye plexi glass.

Yes, I've noticed that while riding my bike to Propect Park. Is this still going to be a bodega, albeit an upgraded bodega? Or are they going a completely different route here (restaurant, juice bar, etc.)? If you ask me, that block has enough on it already. I'm looking forward to stores filling in more units going north on Washington (past St. Marks). Yes, we have Gen, Almadria, The Saint Catherine, Washington Bagel Cafe (which is a major improvement on the businesses that used to be there, especially as they upgraded their facade), Vegetarian Palate, Blue Smoke Cigar Room, Kings Clam Bar, and Sapid Indian, but I wouldn't mind more. Call me greedy . 

From my count, there are at least a few storefronts in this stretch that are either being built or being prepped for rental. 

I wonder if the Hope City Empowerment Center Church will be bought out and replaced with something else. I also wouldn't mind seeing the liquor store go as it attracts (and has long done so) a rather shady crowd; the Beer Works, which is owned by the same guy as the liquor store and Brooklyn Sub, is fine. 

I suspect the answer depends upon whether the building is able to be sold for $4.2M.

I can't imagine a new buyer trying to get an ROI on that investment from the present array of businesses. Instead, I imagine an excavator appearing.

Meanwhile, if I presently owned the building and was looking for a buyer, I might get closer to my sales price by putting $15k into new glass and then having a short term tenant there. Optics help.

Update: I asked a guy who appeared to be supervising the operation, "still going to be a bodega?"

He responded, "yea, nicer"

Today, workers put a red variety of stone tile down throughout. Also visible is a new deli case.

Kareem's is now known as Washington Goumet Deli. It might not sell beer.

If this lot is for sale, isn't it likely a developer will just knock this new place down?

They could buy it under the belief that it will continue to appreciate, and knock it down in a few years. Or, sell it to someone in a few years that knocks it down.

It is hard to beat the present ROI for the area. By some measures it is 15% a year, for the last 10 years, compounding.

Personally, I would knock it down after Washington is "fully gentrified" which is looking like 2017.

However, If CVS told me they would sign a 20 year lease starting the moment it was ready to be occupied, I would buy out those tenants and begin demolition and construction.

BTW, if this property sells, I think video store is history regardless of how long they hold the property.

That video store... I just don't understand how it still exists.

In addition to the roles described, it would not surprise me if the space served as a "office-workshop" for the building's super.

Upscale bodega now open:

heightsmom said:

That video store... I just don't understand how it still exists.

A few weeks ago, a sign appeared above the video store announcing it is For Sale.   However:

I can't find a real estate listing for it online,

Find it hard to believe it is being sold as a stand alone lot, and 

Am too lazy to actually call the real estate agent number.

I noticed the sign, too. Strange. Wasn't the entire building/lot for sale a few years ago?

What a crap bodega.  Another one where they let the corner guys smoke inside.  

Upscale grocers have taken the upscale customers, so the bodega is wise to welcome those who smoke and have lots of free time.

They purchase profitable items and are loyal, even during inclement weather.

I thought all items in bodegas were profitable.  Lottery tickets maybe not as much (?)

Lottery tickets bring loyal customers in.

Except I mainly experience them just standing around the counter, blocking other customers, as they choose number after number and ticket after ticket, buying nothing else.  But yeah, I'm sure stores choose to sell these for good rea$on$

In addition to bringing in customers who buy other stuff, lottery vendors earn a 6% commission on every ticket sold.

http://nylottery.ny.gov/wps/portal/Home/Lottery/Header+Links/RETAILERS