31 July 2026
Main Street Forces A challenging environment Rising costs Other situations A landlord's perspective
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Beacon retailers and landlords cope with cost
Saturday (Aug. 1) will be Chris Reisman's first day in business at 323 Main St. in Beacon.
His shop, Hudson Valley Vinyl, has been at 267 Main St., two and a half blocks away, since 2017, cultivating a clientele of collectors and casual buyers eager to flip through bins of rock, soul, jazz and other records. Business has been strong, but Reisman said a rent increase forced him to find new accommodations. A handwritten message on a piece of cardboard taped to the door directs customers down the street.
In his time as a tenant, Reisman said that 267 Main, a two-story structure which spans six storefronts, has had three owners. The most recent sale, according to Dutchess County records, came in 2024 when Vinit Jobanputra of Westchester County purchased the building for $2.94 million.
Reisman had been paying $2,720 monthly on a lease that expired today. He said Jobanputra offered a three-year extension at $3,500 per month — a 29 percent increase — with additional 5 percent increases in Year 2 and Year 3. (When contacted for comment, a property manager said: "The family does not wish to discuss their business with the media.")
Reisman said he didn't bother with a counteroffer. Instead, he signed a five-year agreement for 323 Main, where he'll have a similar retail footprint. Reisman describes the rent as "very fair," and said his landlord, a Wappingers Falls resident who has owned the three-story building since 2015, "wants us there for the indefinite future."
A listing for 267 Main St. advertises a commercial space with high visibility and foot traffic that's "ideal for retail, boutique, gallery" or a similar business. The asking price, now $3,200 per month, has been reduced, the listing notes.
With more than 200 shops and eateries on its milelong Main Street, it's difficult to make generalizations about commercial rents. Instead, The Current decided to highlight a handful of scenarios reflecting the challenges facing small retailers and property owners. Tenants are easy to identify; landlords less so, in part because many commercial properties are owned by limited liability corporations, and the state does not require LLCs to identify their officers.
In addition, Dutchess County publishes a study every year with statistics on market-rate, below-market and federally subsidized residential rents in more than a dozen municipalities, including Beacon, but no area agencies track commercial costs.
Many factors can prompt a business to move or close, and rent increases are commonly cited. In 2022, the founder of a Long Island-based luxury development firm purchased 340 Main St., which had multiple commercial tenants, for $2.3 million. The owners of Roma Nova, a pizzeria and Mexican restaurant, said they were told their rent would increase from $1,800 to $3,100 per month and they would be required to pay 10 percent of common area and maintenance costs. (Ana and Miguel Tapia sold the restaurant, which is now on Fishkill Avenue.)
The owner of the Beacon Barber Shop did not reveal his lease offer, but said in 2023, "It's more than I can afford." He moved the business to Hyde Park, where he said his costs would be $1,900 less per month.
Last year, Nikki Hayes, the owner of Stella's Fine Market, a specialty grocery store at 155 Main St., announced on Instagram that she did not want to close "but our rent increase became something I simply couldn't afford any longer."
Beacon's popularity has drawn real estate investors to Main Street. "When you have success, you're going to entice investors who want to get in on that," said Mike Oates, president and CEO of the Hudson Valley Economic Development Corp. But he cautioned landlords: "It's one thing to determine rents are below market rate [and can be raised]. But if you have a vacant storefront, it does you no good."
The "greed factor," Oates said, has to be checked. "Sometimes landlords feel the market requires them to raise rent to a level that m...
Saturday (Aug. 1) will be Chris Reisman's first day in business at 323 Main St. in Beacon.
His shop, Hudson Valley Vinyl, has been at 267 Main St., two and a half blocks away, since 2017, cultivating a clientele of collectors and casual buyers eager to flip through bins of rock, soul, jazz and other records. Business has been strong, but Reisman said a rent increase forced him to find new accommodations. A handwritten message on a piece of cardboard taped to the door directs customers down the street.
In his time as a tenant, Reisman said that 267 Main, a two-story structure which spans six storefronts, has had three owners. The most recent sale, according to Dutchess County records, came in 2024 when Vinit Jobanputra of Westchester County purchased the building for $2.94 million.
Reisman had been paying $2,720 monthly on a lease that expired today. He said Jobanputra offered a three-year extension at $3,500 per month — a 29 percent increase — with additional 5 percent increases in Year 2 and Year 3. (When contacted for comment, a property manager said: "The family does not wish to discuss their business with the media.")
Reisman said he didn't bother with a counteroffer. Instead, he signed a five-year agreement for 323 Main, where he'll have a similar retail footprint. Reisman describes the rent as "very fair," and said his landlord, a Wappingers Falls resident who has owned the three-story building since 2015, "wants us there for the indefinite future."
A listing for 267 Main St. advertises a commercial space with high visibility and foot traffic that's "ideal for retail, boutique, gallery" or a similar business. The asking price, now $3,200 per month, has been reduced, the listing notes.
With more than 200 shops and eateries on its milelong Main Street, it's difficult to make generalizations about commercial rents. Instead, The Current decided to highlight a handful of scenarios reflecting the challenges facing small retailers and property owners. Tenants are easy to identify; landlords less so, in part because many commercial properties are owned by limited liability corporations, and the state does not require LLCs to identify their officers.
In addition, Dutchess County publishes a study every year with statistics on market-rate, below-market and federally subsidized residential rents in more than a dozen municipalities, including Beacon, but no area agencies track commercial costs.
Many factors can prompt a business to move or close, and rent increases are commonly cited. In 2022, the founder of a Long Island-based luxury development firm purchased 340 Main St., which had multiple commercial tenants, for $2.3 million. The owners of Roma Nova, a pizzeria and Mexican restaurant, said they were told their rent would increase from $1,800 to $3,100 per month and they would be required to pay 10 percent of common area and maintenance costs. (Ana and Miguel Tapia sold the restaurant, which is now on Fishkill Avenue.)
The owner of the Beacon Barber Shop did not reveal his lease offer, but said in 2023, "It's more than I can afford." He moved the business to Hyde Park, where he said his costs would be $1,900 less per month.
Last year, Nikki Hayes, the owner of Stella's Fine Market, a specialty grocery store at 155 Main St., announced on Instagram that she did not want to close "but our rent increase became something I simply couldn't afford any longer."
Beacon's popularity has drawn real estate investors to Main Street. "When you have success, you're going to entice investors who want to get in on that," said Mike Oates, president and CEO of the Hudson Valley Economic Development Corp. But he cautioned landlords: "It's one thing to determine rents are below market rate [and can be raised]. But if you have a vacant storefront, it does you no good."
The "greed factor," Oates said, has to be checked. "Sometimes landlords feel the market requires them to raise rent to a level that m...