Real Estate CEO: Barclays-area landlords too quick to chase out mom-and-pops
While Barclays Center is a positive development for Brooklyn, many building owners in the area are too quick to price their small-business tenants out, hoping for a big payday.
So says Anthony Lolli, CEO of Rapid Realty, a large franchise-based real estate rental brokerage in New York with more than 60 offices. Lolli, who grew up in Brooklyn Heights and Park Slope, is also a special correspondent on Fox Business News and has appeared on The Today Show.
“As a broker, I love turnover, but I like natural turnover,” says Lolli, who started out at a single location on Fourth Avenue in South Park Slope. “I don’t like turnover coming from an increase of five, six times in rent that is unwarranted.