Another one bites the soaring-Williamsburg-rent dust. After over a decade of resale retail on North Eleventh Street, Beacon's Closet will exit the North Brooklyn 'hood in favor of neighboring Greenpoint. Recently, both Academy Annex and Flying Squirrel announced plans to do the same—leave Williamsburg and relocate to Greenpoint.
Beacon's founder Carrie Peterson tried to look for another space in Williamsburg, but the rents were too high to consider. "It seems like a lot of landlords are assigning arbitrary pricing to their spaces and just waiting to see what big fish or national chain will come and take the bait," said Peterson. The store will reopen at 74 Guernsey Street later this year.
· Soaring Billyburg rents force out another retailer [Crain's]
· Greenpoint Getting an All-In-One Children's And Record Store [Racked NY]