By Naeisha Rose

Special to the Eagle

Several vacant storefronts dot the commercial district along Prince Street in Flushing. The stores have closed over the past year as exorbitant rent hikes and diminished tenant bargaining power have made it impossible for many to stay in business in what was once thriving region for local entrepreneurs.

John Choe, the executive director of the Greater Flushing Chamber of Commerce, catalogs the closures and guided the Eagle on a tour of the shuttered shops and restaurants, including Cantonese Palace on 37th Avenue, one of the first to close.

"This was one of the oldest restaurants on this block," said Choe of the restaurant that had been around for more than a decade. "The fact that it is closing is of concern."

Another business that closed earlier in the year was the Vietnamese restaurant Phò located on 38th Avenue.

Recent closures on 38th Avenue also included Canton Gourmet and Nan Xiang Xiao Long Bao, one of the most sought-after soup dumpling eateries in the city. Customers said goodbye to both restaurants last month.

"I would say that Nan Xiang was maybe the most popular restaurant in Flushing," said Choe. "The fact that this closed was a much bigger cause of concern. On the weekends you will see people lined up outside trying to get in."

Rent hikes that became unsustainable for small businesses throughout Flushing. Today, entire sections of the neighborhood feature more store gates rolled down and more “for rent” or “for sale” signs taped up.

"Nan Xiang started around 2006, and at that time the previous owner was paying $3,000 a month," Choe said, adding that the business expanded from one section on the block to three "and it is now $15,000 per section, which adds up to $45,000 in rent. The landlord even wants to raise the rent. This pushed the owner to close the business."

New developments and the franchises make it hard for the veteran restaurant and business owners to advocate for new, reasonable leases.

In 2015, the real estate and management firm F&T group created a 333,000-square-feet mixed used development called One Fulton Square that brought in an array of restaurants and a luxury hotel, resulting in higher rents across the region.