New Residents Mean New Customers

Bed-Stuy is hot. The last unit on the market in the Bed-Stuy condo building 111 Monroe Street is in contact, according to Streeteasy and a broker representing the development. The building first hit the market in early 2009. A round of substantial price cuts was put into place shortly after that, and a grocery moved into the ground floor last year. Prices for the 29 one- and two-bedroom units ranged from $315,000 up to $469,482.

With a high rate of house sales, Bed-Stuy is primed to continue to grow. All these new residents are going to need places to shop and new businesses will thrive. Volume businesses like hair salons and grocery stores will always be needed but this new population will be looking for a diversity of shops. We can hope to see new restaurants, bakeries, clothing stores and service businesses in no time. No retail storefront will stay vacant for long with this kind of growth in the neighborhood. And already thriving businesses will continue to do what they do best, satisfy customers from around the corner to two neighborhoods away.


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