Hikind Seeks To Limit Banks In Boro Park

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dime-bankAssemblyman Dov Hikind (D-Brooklyn) is hoping to put a halt on banks opening new branches on Boro Park’s 13th Avenue. Over the last few years, an increasing number of banking chains have secured real estate or long leases on an avenue that otherwise caters to a neighborhood community of local shoppers. The result has been a steady increase on rents that has already driven out a number of local merchants, left store fronts vacant, and threatens to change the character of the neighborhood.
“It’s hurting our community,” said the Assemblyman. “Small store owners-people whose family businesses have served residents for generations-can no longer afford the rent. There’s already 17 banks in a ten-block span and an 18th one plans to open. That’s plenty.

“Increased rent doesn’t just drive local merchants out of business–it impacts the ones who can weather the increase but at a huge cost to the residents here. When rents go up, so do prices. Our community members are paying a heavy toll for these banks.

“I’ve already reached out to NYC Council Members David Greenfield and Brad Lander who enthusiastically support this effort, as does Yidel Perlstein, Chairman of Brooklyn Community Board 12.”

The Assemblyman says that it’s clear that rents have increased on 13th Avenue and consumer prices with them. Kosher Delight and Donut Man are among the many small, local businesses that were part of the neighborhood for many years but have recently disappeared from the landscape due to an inability to meet rising rent demands. Simultaneously, additional banks have targeted 13th Avenue as a desired home for a new branch.

Last June, the NYC Council approved a zoning change aimed at limiting the frontage of commercial establishments along major commercial avenues on NYC’s Upper West Side. The new rules, which were approved by a Council vote of 49 to 2, were a response to approximately 30 banks spanning 89 blocks. The density of banks per block along 13th Avenue in Boro Park is much greater.

“In the interests of this community and its residents, I intend to work with elected officials and City Planning to implement these changes,” said Assemblyman Hikind. “During these difficult economic times, it’s important to keep prices reasonable.

{Matzav.com Newscenter}


  1. I don’t see how zoning laws can discriminate against certain banks who desire to do business on 13th Ave.

    A general limit on commercial establishments may narrowly be legal, but once an area is zoned for as a commercial area, I don’t see how they can place a limit of the number of businesses of a certain type there.

    Which type of business in next? Will they start limiting the number of pizza shops, restaurants, bakeries, etc?

    I belive in the free trade system, and limited interference in commerce.

  2. can anyone explain why so many banks are opening up -they are huge properties alot of money in renovations and in bp who has money in the bank ?

  3. Dov is %100 right. I know. I was laid off from a “small business” on 13th Ave. that had to close, in part, because the rent was to high. I hope those filthy greedy landlords are happy with themselves that they put fellow hard working Yidden out of work!

  4. When Al Capone (or maybe it was another criminal) was asked why he robs banks, he said. “Because that’s where the money is.” I guess the banks say the same thing about Boro Park if there are so many banks willing to set up shop there.

  5. Sounds a bit unusual. Isn’t increasing real estate prices a sign that a neighborhood is healthy? Isn’t this simply the free market at work?

  6. Is it just the banks? Sure there isn’t a little local opportunism there? Or just general everyday market forces? 13th Avenue is a prime location. On the other hand, when I lived in BP we did a lot of shopping on other Avenues. 16th and 18th come to mind. Landau’s certainly isn’t on 13th Avenue. Perhaps Mr. Hikind could use his political talents on other, more pressing problems, like expanding job-training opportunities for heads of families so they’ll have the money to spend in the stores on all the avenues.

  7. You have to love the American way of doing business. They drive up prices until no one can afford them, and then they cry, “Boo hoo, we can’t afford this way of life anymore”!
    When real estate in Brooklyn is overpriced and strangling people, as well as all aspects of American life is to charge people the absolute most that they will pay, this is a natural outcome!
    If you don’t like the banks their, there is nothing and then should be nothing done about it. You should not stop fair trade practice.
    If you have a problem with the banks, don’t use them. They will be gone very soon!

  8. Good Cause Dov,

    But we live in a capatalist country where the free enterprise system has to be allowed to work not only when we want it to.


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