BE Yarn to Close After More than 30 Years, Citing Rent Increase

BE Yarn (784 Manhattan Ave.), a stalwart local business, recently shared with customers that they would soon close after more than 30 years in Greenpoint.

Greenpointers reached out to Barbara, BE Yarn’s owner, for more details about the situation. Barbara (who declined to give her last name for the story) told us that the landlord decided to raise the monthly rent by $2,000 to bring it in line with other commercial rents in the area.

Barbara stressed that she has a good relationship with the landlord and that she feels like this is just a business decision, nothing personal. She hopes to find a new location for the space, but told Greenpointers that everything in the area has gotten so expensive and doesn’t think it’s likely that they’ll stay in the neighborhood.  

Konrad Wos, of Wos and Wos Development Corporation, is the property manager for the building. He explained some of the landlord’s reasons for wanting to increase the rent:

“For over 36 years, the landlord and B&E Yarn have enjoyed a successful, mutually respectful relationship, beginning with their first lease in 1989 at a rate of $1,550 per month. Throughout this time, B&E Yarn has been considered a valued tenant, with an average lease rate consistently 20% to 25% below the market rate for similar retail spaces in the area.

Over the years, the rent has increased an average of 7.2% annually. The tenant was not charged additional costs such as pro rata increases for real estate taxes, insurance, or other standard lease provisions. During this time, real estate taxes for the property have risen by over 500%, while insurance premiums have increased by more than 1,000%.

As a long-term supporter of the Greenpoint neighborhood, the landlord has been an active partner in supporting the local retail community. Notably, during the pandemic, both residential and retail rents were temporarily reduced by up to 15%, and late payment penalties were waived for tenants facing hardship.”

Wos also concurred that it was a difficult decision to make.

“B&E Yarn offers an excellent product selection, and we are confident their loyal customer base will continue to support them, even if they relocate to a nearby street with a more affordable rent structure that better fits their evolving business model.”

The Manhattan Avenue closures continue to pile up, and the biggest commercial thoroughfare in Greenpoint is starting to resemble a ghost town. Mr. Berry, DNA Footwear, Starhawk Design, Upright Coffee, JSS Manhattan Fruit, Euro Chemist Pharmacy, and Polka Dot have all recently closed. Burson & Reynolds also announced it would close after ten years 

While each has their own unique reasons for doing so, many local business face rent increases and landlord difficulties. Sippy Cafe shared that their rent nearly tripled. Marianella Market, The Wild, and Citroën all experienced landlord issues, as did Our Wicked Lady. Perhaps most infamously this year, a landlord dispute pushed out the beloved Pencil Factory bar (the storefront was then listed for an eye-watering sum of almost $30,000 a month, though we now know who will take over the space).

Barbara wanted to thank the Greenpoint community for the support over the years and encourage customers to stop by while they can. She plans to stay open for another three months or so.