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Aggravating_Rise_179 t1_iwh954l wrote

Reply to comment by Ironboundian in If Newark had a downtown, we’d be goated by poete_idris

Um who do you think owns the nightlife in Manhattan, Washington Ave in Hoboken, or Grove Street... the rent in those places are extremely high for a mom and pop place to open up and the people running those places tend to be corporations.

Corporations have realized they can raise the rent alot more when there are things to attract the high earners, and part of the attraction is night life. Small landlords are the ones that care more about loud noise not the big corporations.

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Ironboundian t1_iwhxol2 wrote

The buildings on newark ave? Not corporate landlords. For example the building that Porta is in is owned by a family that lives in Long Island and bought it 20 years ago. Not by one of the big Jersey City downtown Landlords.

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sutisuc t1_iwj0p38 wrote

That guy had some big r/confidentlyincorrect energy going on

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Aggravating_Rise_179 t1_iwniich wrote

Did I say all of those places are all run by corporations, I said they tend to be run by corporations. Pound for pound, the vast majority of the landlords in those parts of town are not mom and pop. You do have holdouts, but they are the minority.

In Hoboken, the vast majority of the small mom and pop places cashed out a long time ago. In Manhattan the definition of a small landlord is usually just an LLC that owns like 3 buildings. Im excited there are some still there, especially in along Newark Ave, but thats usually the exception now a days.

At the end of the day, landlords in redeveloping or up and coming neighborhoods want to make the neighborhood as attractive as possible to get the tenants they want. Downtown is increasingly being advertised to university students, recent graduates, and young professionals looking for easy access to Manhattan/JC/Hoboken. That crowd tends to want a more active nightlife close by to compliment the nightlife of the rest of the region. So landlords will change with the crowd and attract those places.

Another counter point, small landlords (the more mom and pop places) tend to shy away from attracting rowdy crowds because they have limited incomes to deal with the damage that a rowdy crowd causes/to deal with their tenants complaining about noise violations/etc. Corporate landlords have the funds to deal with it so they generally have no issue leasing out to businesses that cater to night life etc.

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