Jean Balukas's Hall of Fame Billiards is closing this weekend, Brooklyn NY

Fatboy

AzB Silver Member
Silver Member
It always goes unmentioned, but the Realestate boom of the past 30 years has done huge huge huge damage to pool. It’s just not a viable biz given the massive capital appreciation of property market.

This added to smoking bans, poker, video games, internet. Pool suffers more.....

Jamaica Joes in OKC was a hell of a room too and as we know it’s gone now too. Can’t get mad at the building owners for wanting maximum rents. And with pool how long does it take to collect a $Million in pool time?

Thankfully there are pockets of pool in America that are alive and well, but not in “big city” markets like it was. Where ever the boom was best for property damaged pool the most. LA is a prime example, NYC too. Chicago....

Best to Jean(one of my personal pool hero’s)
Fatboy :)
 

Fatboy

AzB Silver Member
Silver Member
Rent, Taxes, Insurance, Phone, Internet, Cable TV, etc., etc., etc. Cost of having a business is very pricy. I honeslty do not understand how in 2020 a Pool Room can afford to stay open. Plus run in the black to where the owner is making enough after paying the bills to justify the aggravation.

Scott Frost the Freezers Place is a new room in Tempe, AZ. But bottom line is the P & L statement will tell the truth if the place is actually making it. BLACK INK.

Phoenix is arguably the strongest west coast pool city there is. Vegas has had the big action past few years and gets attention for leagues. But as a City Phoenix is by the strongest “west coast” market for pool. SF Bay Area is 2nd and then Vegas. Idk much about Pacific Northwest now, Denver has been strong too. But as a life long west coast player Phoenix is #1. Has been since I been around-mid 80’s to now.

Edit: Sacramento is super strong too considering it’s size. Deep pool history there and solid guys. Props to Sac!!!

Best
Fatboy
 
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jimmyg

Mook! What's a Mook?
Silver Member
It always goes unmentioned, but the Realestate boom of the past 30 years has done huge huge huge damage to pool. It’s just not a viable biz given the massive capital appreciation of property market.

This added to smoking bans, poker, video games, internet. Pool suffers more.....

Jamaica Joes in OKC was a hell of a room too and as we know it’s gone now too. Can’t get mad at the building owners for wanting maximum rents. And with pool how long does it take to collect a $Million in pool time?

Thankfully there are pockets of pool in America that are alive and well, but not in “big city” markets like it was. Where ever the boom was best for property damaged pool the most. LA is a prime example, NYC too. Chicago....

Best to Jean(one of my personal pool hero’s)
Fatboy :)

No doubt, historic low interest rates have distorted asset values. While being a boom for RE, equities, and other hard assets, it, along with the internet (Amazon), has literally destroyed all retail. Aside for malls in general, some of the major retail arteries in NYC are littered with vacancies. Eric, we should have bought ALL the diners in Greece during the crisis. :wink: Jim


Shopping Mall Vacancies Hit Two-Decade High

death%20of%20malls%20.jpg


https://www.theepochtimes.com/more-than-9300-stores-closed-across-us-in-2019-report_3180063.html

The death of American malls is real, and it's not being overstated, the worse has yet to come as more stores are expected to close in 2020.

Jan 14, 2020 5:25 PM
 

jviss

AzB Silver Member
Silver Member
No doubt, historic low interest rates have distorted asset values. While being a boom for RE, equities, and other hard assets, it, along with the internet (Amazon), has literally destroyed all retail. Aside for malls in general, some of the major retail arteries in NYC are littered with vacancies. Eric, we should have bought ALL the diners in Greece during the crisis. :wink: Jim


Shopping Mall Vacancies Hit Two-Decade High

death%20of%20malls%20.jpg


https://www.theepochtimes.com/more-than-9300-stores-closed-across-us-in-2019-report_3180063.html

The death of American malls is real, and it's not being overstated, the worse has yet to come as more stores are expected to close in 2020.

Jan 14, 2020 5:25 PM

How can it be a boom for real estate if there are so many retail vacancies? And, if the internet, and Amazon, in particular, are wrecking brick and mortar retail, shouldn't that be an opportunity for pool? I mean, what are they going to put into all those stores, and with so many vacancies, rents will fall.
 

CocoboloCowboy

Cowboys are my hero's
Silver Member
Phoenix is arguably the strongest west coast pool city there is. Vegas has had the big action past few years and gets attention for leagues. But as a City Phoenix is by the strongest “west coast” market for pool. SF Bay Area is 2nd and then Vegas. Idk much about Pacific Northwest now, Denver has been strong too. But as a life long west coast player Phoenix is #1. Has been since I been around-mid 80’s to now.

Edit: Sacramento is super strong too considering it’s size. Deep pool history there and solid guys. Props to Sac!!!

Best
Fatboy


AZHOUSEPRO does a Pool Newspaper, funny you mention Phoenix being strong, as a Pool Venue. Last really big Event was years ago, the one were Johnny Archer won, and got a rubber check. Don't think Jay Helfert ever got his TD Money.


Last 5 years rooms closed, Alexander's, Northern Lounge, and about 5 to 7 more, new ones did not open to replace in same number as closed.

Reading the Newspaper the other day local tournments payout are like they were 5 - 7 years ago very low, not worth the time to go out and spend all nite player for 70-100 bucks.

I do not think the Phoenix Metro area is strong, it is holding o, nothing really exciting.
 
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jimmyg

Mook! What's a Mook?
Silver Member
Originally Posted by jimmyg View Post
No doubt, historic low interest rates have distorted asset values. While being a boom for RE, equities, and other hard assets, it, along with the internet (Amazon), has literally destroyed all retail. Aside for malls in general, some of the major retail arteries in NYC are littered with vacancies. Eric, we should have bought ALL the diners in Greece during the crisis. Jim


Shopping Mall Vacancies Hit Two-Decade High

https://www.theepochtimes.com/more-t...t_3180063.html

The death of American malls is real, and it's not being overstated, the worse has yet to come as more stores are expected to close in 2020.

Jan 14, 2020 5:25 PM

How can it be a boom for real estate if there are so many retail vacancies? And, if the internet, and Amazon, in particular, are wrecking brick and mortar retail, shouldn't that be an opportunity for pool? I mean, what are they going to put into all those stores, and with so many vacancies, rents will fall.

Trying not to derail the thread...but

As I said, near zero interest rates create asset price distortions, and some make "zero" sense. I've seen major landlords leave properties vacant for years rather than lower and collect rent. Also, there are several sub-categories to RE and without these low interest rates, we'll be seeing much lower prices in all of them. When you can buy RE with "free money", you do.

Later.
 

Bob Jewett

AZB Osmium Member
Staff member
Gold Member
Silver Member
I was looking through my collection of National Billiard News magazines/newspapers and I noticed this:

Scan20200202.jpg

If you look closer....

Scan20200202_0002.jpg
 

Fatboy

AzB Silver Member
Silver Member
AZHOUSEPRO does a Pool Newspaper, funny you mention Phoenix being strong, as a Pool Venue. Last really big Event was years ago, the one were Johnny Archer won, and got a rubber check. Don't think Jay Helfert ever got his TD Money.


Last 5 years rooms closed, Alexander's, Northern Lounge, and about 5 to 7 more, new ones did not open to replace in same number as closed.

Reading the Newspaper the other day local tournments payout are like they were 5 - 7 years ago very low, not worth the time to go out and spend all nite player for 70-100 bucks.

I do not think the Phoenix Metro area is strong, it is holding o, nothing really exciting.

I forgot about that deal in AZ where JA got the rubber(he did get a piece eventually) yeah that was bad.

Sounds like pool is suffering there now. That’s too bad, I loved the pool scene there in the early 90’s

Best
Fatboy
 

maha

from way back when
Silver Member
pool rooms tend to be run by non business people. especially ones where the owner isnt present and they hire a minimum wage guy to sit at the counter.
well run pool rooms do make money. but they are full businesses that also sell food and drinks and products.
 

trinacria

in efren we trust
Silver Member
20k square footage in Brooklyn is a lot of property, theyre either getting a good chunk of change for it that table time would never bring or maybe business is dead or jean is just tired and wants to retire. my guess, they'll bring it down and put up apartments with a store front that will become a franchise, Starbucks, DD, BK, chipotle most likely. im taking bets. what a shame. you can count in one hand the poolhalls left that house pool for pool players.
 

Bob Jewett

AZB Osmium Member
Staff member
Gold Member
Silver Member
... How on earth did you get your hands on his copy?
Charlie Ursitti sold me his magazine collection. He collected for many years. Other copies of NBN from that era were originally from Jimmy Caras.
(And if anyone needs to complete their NBN collection, I may be able to help.:smile:)
 
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garczar

AzB Silver Member
Silver Member
20k square footage in Brooklyn is a lot of property, theyre either getting a good chunk of change for it that table time would never bring or maybe business is dead or jean is just tired and wants to retire. my guess, they'll bring it down and put up apartments with a store front that will become a franchise, Starbucks, DD, BK, chipotle most likely. im taking bets. what a shame. you can count in one hand the poolhalls left that house pool for pool players.
From what i've learned on this is they(Balukas) own the building but can't fade the big tax increases(gotta love NY). The building was built in '30 and very cool looking. It would be nice if someone remodeled instead of tearing it down. Sucks to see another room gone especially one used by so many that live close by.
 
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ctyhntr

RIP Kelly
Silver Member
$20K in 1967 has significantly more purchasing power than $20K in 2020.

Wow! What a great find. Interesting to see tournament payouts so similar to 2020. How on earth did you get your hands on his copy?
 

Bob Jewett

AZB Osmium Member
Staff member
Gold Member
Silver Member
$20K in 1967 has significantly more purchasing power than $20K in 2020.
Inflation calculator sez:

$153,088.02

But I think the recent total payouts at DCC were roughly that much (in 2020 dollars) so the payouts were similar after inflation adjustment.
 
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