By Paula Katinas
Bay Ridge — The Bay Ridge portion of Fifth Avenue has a store vacancy rate of six percent, according to a local business leader. It’s a good sign for the economy, he said.
Jim Clark, president of the Bay Ridge Fifth Avenue Business Improvement District (BID), said there are approximately 340 shops in the territory covered by the BID, from 65th Street to 85th Street along Fifth Avenue. There are currently 21 vacant stores in that area, Clark said.
“Our economy is slowly improving and we are seeing new merchants opening up at an improving rate,” he said.
Clark gave an update on the avenue’s store vacancy rate during his remarks at the BID’s annual meeting at the Bay Ridge Manor catering hall, 476 76th St., on June 11. Business Improvement District leaders are required by city law to hold annual meetings to update members and merchants about their finances and activities. read more