by Beth Young
The Greenport Village Business Improvement District has called in some big guns to help get the word out about available business properties in the center of the village, where many storefronts are currently vacant.
The firm Helmsley Spear, based in Manhattan, has volunteered its services to a new BID effort to work with owners of commercial property in the village to find prospective tenants. They’re also looking to fill gaps in the types of businesses in Greenport.
Pictured Above: A large retail space (with the green awning) across Front Street from Mitchell Park, is currently seeking pop-up businesses for the coming season, while the property is in probate.
The company’s team presented their Action Plan to the village at a standing-room-only BID meeting Wednesday evening in the Old Schoolhouse on Front Street.
“The idea is that this is not going to be an overnight thing, but is going to be a concerted effort to change the narrative,” said BID President Rich Vandenburgh. “Greenport is open for business, and we’re looking to help people who want to rent.”
Helmsley Spear’s owner, Kent Swig, who said he lives in Water Mill, gave an overview of his experience revitalizing neighborhoods in Manhattan, including the neighborhoods surrounding Times Square and in the downtown financial district after Sept. 11, 2001.
“Our goal here is very, very simple,” he said. “We want to work with the community, through the BID, to make Greenport a more buildable, workable and financially better place.”
“We’re not getting compensated,” he said, adding that his company will also be spending money on a marketing plan for Greenport. “It’s good for business for us to put our name out there.”
The company is planning a formal launch of the Action Plan in late May, after meeting with the community and owners of properties and businesses, and developing a marketing plan.
“We’re meeting with all the local brokers, and meeting with the landlords that have vacancies, to get an idea of what people are really looking for, what kind of tenancy they’d like to have and what they’re expecting,” said Mr. Swig.
He was joined by brokers David Sargoy and Neil Ergezer, who gave an overview of the types of businesses they’ll be courting to come to Greenport.
“We wouldn’t bring in another coffee shop or t-shirt shop or brewery,” said Mr. Ergezer. “We don’t want to cannibalize existing businesses here.
He added that the company would respect all existing exclusive listings in the village, but is willing to “co-broke with all existing brokers.”
“We’re looking at arts and crafts, child care and education-related businesses that would enhance the community,” said Mr. Sargoy.
He added that the company also has a financing program that can provide 90 percent of the financing for companies that want to buy a buidling in Greenport.
“We’re looking at 20 year money, running at 6.2 percent,” he said. “There are a lot of buildings for sale in Greenport.”
“We’re looking at wellness and fitness, and specialty retail — more year-round services,” said Mr. Swig. “Artist studios are big — there are a lot of people that would like to have space here. Medical and urgent care is also a big marketplace.”
Mr. Sargoy said Helmsley Spear has a staff member who was once the head of retail for Northwell Health, and Greenport would be a good market for a new urgent care center. He added that the company is also talking to small grocery stores that might like to locate here.
Mr. Swig also said he’d like to find “more creative ideas” for ‘activating’ the village’s waterfront, and his firm can also work on workforce housing initiatives.
Mr. Swig said he already visits Greenport at least once a week.
“We’re not going to ride past — I’m here all the time,” he said. “The energy we will create will bring people into the community, so I won’t be the only one on the carousel, like I was two weeks ago.”
Mr. Swig said that, in past revitalizations he’s been involved in in Manhattan, he sees his company’s role as similar to that of a conductor of a symphony.
“You start with one musician, and then two or three, and then add in and they’re all working together,” he said.
Rena Wilhelm, owner of The Weathered Barn on Front Street, told the brokers her business is open year-round, because she believes consistency is important to “the overall health of Greenport.”
“It only takes one customer pulling on a locked door” to change the narrative that Greenport is open for business, she said.
She urged the brokers to focus on the need for year-round businesses.
“We don’t want to see a revolving door of businesses that come in for three months, capitalize on the peak season, and leave,” she said. “That feels like a slap in the fact to those of us who live here year-round.”
She urged the brokers to explore other impediments to local businesses, including staffing, housing, and willingness to make a long-term commitment to the business community.
“If people would like to see more workforce housing, that’s certainly something we can work with. We can be very helpful in that,” said Mr. Swig.
Many downtown Greenport businesses were concerned this winter after the latest owners of the Claudio’s complex of businesses at the foot of Main Street closed at the end of the 2025 season.
Claudio’s announced Wednesday that Claudio’s Waterfront will holding a soft opening this weekend — April 24-26, from 11 a.m. to 5 p.m., and will be “open weekends only and weather permitting until summer officially kicks off.” The main Claudio’s Restaurant will open May 1, according to a Facebook post by the restaurant.
Greenport Mayor Kevin Stuessi said he’s concerned that many landlords “have very unrealistic expectations about rent. They either want too much to sell it or too much to lease it.”
He added that he had been working with an owner of a successful bike shop to open a business in Greenport, but that business owner “lost a couple deals because the landlord did not move on $1,000 or $500 a month in rent.”
“It’s an issue, and it’s a very sensitive issue,” said Mr. Swig. “Once you lose a dollar in rent, you never get it back, but that’s just a financially foolish thing once its not rented for five or six months. Then you’re behind the eight ball, and you’re never getting it back. But I can’t move a mountain that won’t be moved.”
Mr. Ergezer said some of that phenomenon is due to “Covid-itis.”
“There are landlords that bought during Covid at very high prices, and they have to justify their numbers,” he said. “But now they’re dealing with the time value of money and the opportunity loss. We will spreadsheet it out and put it in front of them, and show them the reality. Is it worth not doing the lease for $1,000 a month less?”
Mr. Swig added that buildings that are leased “will raise the entire community. They will have a chance at getting a higher rent in the future. You can’t be an island in a community and expect to do well.”
Keep Independent News on the East End
The Beacon is able to provide all of our content online free of charge thanks to support from our readers. Be a vital part of keeping our community informed!
Advertisement
