Retail giant blames NYC subway crime for breaking lease for shops at FiDi station
NEW YORK CITY - Briahna Roberts stops by Krispy Kreme donuts inside the Fulton Transit Center regularly, though both she and Krispy Kreme may have to find another location.
"Closing a place like this I don't see how that can, you know, help New Yorkers," Roberts said.
According to the MTA, Westfield – the company that manages the retail space inside Fulton Center – gave notice last month of plans to break its lease over concerns about crime in the NYC subway.
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Nicholas Ritacco, portfolio manager and director of finance at IB Global Real Estate Funds, believes Fulton Center has a dual problem, beginning with location.
"Between the office tailwinds of people not coming back and not really frequenting that location as much, combined with the security concerns, security perception is reality, it's very difficult for retailers to want to stay at that location," Ritacco said.
Fulton Transit Center
The NYPD reports transit crime is up, just over 13% year to date. To address transit safety concerns, the NYPD deployed 1,000 officers to support the MTA's police force.
Last week, New York Gov. Kathy Hochul announced National Guard troops would also be part of enhanced subway safety measures.
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"I'm the governor of the state of New York," Hochul said in an exclusive interview last week on Good Day New York. "My number one priority is the safety of all New Yorkers."
In a statement to FOX 5 NY, the MTA said, "While we are unable to comment on specific pending litigation, we have full confidence in the NYPD, which has surged officers into the subway, to ensure safety across the transit system, including at Fulton Center."
The MTA has filed suit in Manhattan Federal Court to prevent Westfield from breaking its lease.