"New York’s flower district is dying"

West 28th Street once boasted more than 65 wholesalers. Now it’s a handful of second- and third-generation shops. As nearby hotels and condos shoot up, skyrocketing rents have forced out wholesalers and florists who can’t keep up, a pattern seen all over the city as bank branches and drugstore chains appear where family-owned stores once served neighborhoods. The flower district has experienced an average 15 percent increase in rent over the last 10 years, according to data compiled by brokerage Citi Habitats. The median monthly rent is currently about $4,000, among the highest in the city, according to an analysis from Bloomberg News. (However, New York did see prices decline in second quarter 2018.)

The real estate frenzy has also erased nearby parking lots, which floral customers depended on to transfer loads of flowers out of midtown’s congested streets. Increasing traffic has deterred longtime buyers from even trekking into the city. Even without the fallout from construction and gentrification, the marketplace for expensive flowers has been flooding with new competitors—from Costco to e-commerce sites and even local delis—further squeezing the high-end florists of 28th Street.

“There is no viable future for the flower market here,” says Gary Page, owner of G. Page Wholesale Flowers and former president of the now-defunct Flower Market Association, which reported back in 2000 that the district raked in as much as $120 million a year. “The heydays are gone.”