NY Daily News: Harlem Business Alliance executive director Regina Smith says climbing rents are killing small businesses
Harlem small businesses are desperately in need of assistance, said the executive director of the Harlem Business Alliance.
Regina Smith said she’s seen more than a dozen area small businesses close up over the last year.
“It’s the rent,” she said, noting that many Harlem businesses have seen their rent skyrocket — in some cases, doubling — forcing many long-time shops to close.
The latest example is Lenox Lounge. The owner, Al Reed, told the Daily News his rent is jumping from $10,000 to $20,000 a month and he can’t afford it. At the end of June, the Harlem fixture could close for good.
“I hate to see him lose it,” said Smith, who grew up in the St. Nicholas Houses and still lives in Harlem.
