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New York Post
2 days ago
- Business
- New York Post
How downtown Los Angeles became a boarded-up ghost-town with hoards of drug-smoking vagrants and dozens of shuttered storefronts
LOS ANGELES — Downtown in the City of Angels is looking more and more like a ghost town. The famed Los Angeles neighborhood has become a shadow of its former glory — with rows of boarded up shops, chain stores leaving in droves and hoards of drug-using vagrants sparking major safety concerns for shoppers and business owners alike. The Post can reveal that there are more than 100 vacant storefronts in the area's Historic Core, which was the rip-roaring heart of the downtown shopping and entertainment district. Advertisement 17 A homeless encampment seen in downtown Los Angeles on Aug. 16, 2025. Ruaridh Connellan for NY Post 17 A map of business closures in the Historic Core of LA. Donald Pearsall / NY Post Design The area's Art Deco buildings and lavish theater marquees are still there, but they now overlook busted windows, boarded-up storefronts, and throngs of homeless people smoking drugs from glass pipes in broad daylight. Advertisement Around one-third of commercial spaces sits empty, according to research firm Avison Young — a higher vacancy rate than Detroit. Even the most stalwart businesses are being driven out by crime, record-high rents and an ever-shrinking pool of Angelenos with any reason to be downtown, according to business owners. 'Many historical independent restaurants are struggling under the weight of these issues and have already closed, while those remaining are fighting to survive,' wrote the LA's oldest eatery, Cole's French Dip, when it announced its forthcoming closure. And it's not just mom-and-pop joints — chain stores have also been closing downtown locations at a disastrous clip. Macy's shuttered earlier this year as part of a massive corporate downsizing, leaving downtown without a department store for the first time in 150 years, according to LA Magazine. 17 Cole's French Dip announced its closure in DTLA. Ruaridh Connellan for NY Post Advertisement 17 A barefoot homeless man seen walking outside of Cole's French Dip. Ruaridh Connellan for NY Post Retailers Vans, Theory, Paul Smith and Acne have also vacated the nabe. In 2022, Starbucks closed one of its downtown locations, citing safety concerns. Other big-name brands like the Adidas and Apple stores fell victim to looters — both during the Black Lives Matter riots of 2020 and the anti-ICE protests this summer, though they continue operating. Each month, the streets of downtown get a little emptier — save for the homeless wandering into downtown from Skid Row in ever greater numbers. Advertisement 'They're coming all the way up to Spring Street now,' said one barber who works in the city's 'Historic Core.' The day before speaking to The Post, the barber, who asked not to be named, had to call the cops when a homeless man stormed into the shop and barricaded himself inside. 'Everything is different now,' he said. 'You used to have people partying in the street. Students would come in from the colleges. They'd get a haircut and go out and have fun.' 17 Homeless people sleeping in the entranceway of a shuttered storefront in DTLA. Ruaridh Connellan for NY Post 17 A homeless man pushing a cart outside of the Hotel Barclay. Ruaridh Connellan for NY Post 17 An abandoned storefront seen in DTLA. Ruaridh Connellan for NY Post Before the pandemic, downtown LA was in the middle of a renaissance the likes of which it hadn't seen since the Roaring Twenties, when playboys and flappers perused the boutiques and glittering movie palaces of Broadway Street, according to historian William Deverell, author of 'Whitewashed Adobe: The Rise of Los Angeles.' 'There was a high-water mark around 2015 to 2020. It was a period of energy and redevelopment in the Arts District, in addition to the Historic Core,' Deverell said. But COVID-19 dealt a blow that downtown is still reeling from — and not just because people stopped going out. Advertisement 17 Protesters looting and vandalizing a Starbucks in downtown LA during the BLM protests on May 29, 2020. AP Photo/Christian Monterrosa,File 17 National Guard troops protecting a boarded up business in LA on June 6, 2020. Photo byRioters smashed and looted dozens of shops and restaurants during the BLM protests, and many businesses either never reopened or went under within the year. Today, many street-level businesses leave their windows boarded up as a standard precaution. And some of the neighborhood's most famous landmarks have become the biggest eyesores — including the empty former headquarters of the Los Angeles Times and the boarded-up Morrison Hotel, featured on the cover of the namesake Doors album. A skyscraper sits empty: The abandoned 677-foot Oceanwide Plaza tower has become a giant playground for hooligans and vandals. Advertisement 17 The abandoned Oceanwide Plaza seen on Aug. 16, 2025. Ruaridh Connellan for NY Post 17 Graffiti seen on the side of Oceanwide Plaza. Ruaridh Connellan for NY Post Down on the ground, criminals run roughshod, locals complain. Violent crime is down in the city overall, but downtown LA feels like a huge exception, said the owner of Benny Jewelry Behzad on Broadway. Advertisement 'It's been a 180-degree change here,' said Benny, adding that he's been held up at gunpoint twice in recent years. Benny said his real problem is rent, which has gone up 2-5% each year since the pandemic. 17 Burn marks seen on the windows of the Morrison Hotel in LA. Ruaridh Connellan for NY Post 17 A fence seen outside the abandoned LA Times headquarters. Ruaridh Connellan for NY Post Advertisement He isn't alone: Commercial rent in downtown reached a record high this year, with businesses shelling out almost $50 per square foot just for office space, according to Avison Young By comparison, the average office rent in downtown Manhattan in New York City is $57 per square foot, and nearly $90 per square foot in Midtown — areas that have seen a boom from post-pandemic return-to-office policies. 'Landlords need lower rents instead of just holding onto empty spaces,' said Michael Backlinder, whose coffee shop features one of the only outdoor dining spaces left on Broadway. 'Landlords need to understand they aren't sitting on a gold mine,' he said. 17 A closure message on the marquee of The Mayan seen on Aug. 16, 2025. Ruaridh Connellan for NY Post 17 A message to customers outside of The Mayan. Ruaridh Connellan for NY Post Yet Backlinder believes downtown remains a decent place for those who live there, thanks to a core of local watering holes, community art galleries, yoga studios and other services catering to neighborhood folk. Glen Proctor, who moved from New York with his husband after the pandemic, said they like the quieter streets — even if those streets come with graffiti and hooligans. 'Our life from New York is much more relaxed,' he said. 'It can get crazy with the unhoused around, but you get a lot more space for something you would pay a lot more for in Hollywood.' 17 A homeless person sleeping on a bench at a bus stop in DTLA. Ruaridh Connellan for NY Post 17 A homeless person sleeping outside of an abandoned building in DTLA. Ruaridh Connellan for NY Post Proctor and his husband aren't alone: More Angelenos are choosing to live downtown rather than vie for space in ritzier neighborhoods. Apartment occupancy is currently around 90%, according to the DTLA Alliance, which is higher than pre-pandemic levels. Backlinder believes neighborhood is due for a comeback, but it won't get one by trying to be the next Greenwich Village. 'After the pandemic, you had corporate stuff coming in, high-end retail. High-end retail is what people buy online. We need landlords to activate the streets and invest in services for the people who live here.' But for downtown to change, the city has to invest in it — and change the faded perception of the nabe. 'Everyone thinks people are dying downtown, but that's not the case,' he said. 'People just need to talk more positively.'
New York Post
08-08-2025
- Business
- New York Post
Sydney Sweeney ad uproar revives meme-stock ‘squeeze' play
American Eagle's stock meteoric rise after showcasing actress Sydney Sweeney's best assets in its jeans ad has put the company at risk of a dreaded short squeeze, On The Money has learned. Yes, the uproar over the spicy campaign featuring the blonde honeypot – which the 'woke' mob has branded as racist – has breathed new life into the meme-stock phenomenon of torching short seller-professional investors who bet shares will tank by 'squeezing' American Eagle's stock to new heights, sources who follow the money said. During its pandemic-induced craze days in 2021, a massive squeeze put a hedge fund out of business – to the delight of millions of retail traders who banded together to drive stocks like GameStop and AMC to the moon. 3 The uproar of American Eagle's ad campaign with Sydney Sweeney has breathed new life into the meme-stock phenomenon of torching short seller-professional investors who bet shares will tank by 'squeezing' American Eagle's stock to new heights. Donald Pearsall/NY Post Design The odd cultural moment involving American Eagle could make it ripe for a similar buying frenzy. So-called short interest in the stock (an indicator of how many negative bets are being placed) was at an already dangerously high level of 31% before the ad for the 'Euphoria' star touted her good 'jeans' and 'genes,' according to S3 Partners, which follows shorting by professional traders. Then, when Sweeney flashed her all-denim look in July, shares began to tick up. Massive publicity, first positive, that the sultry starlet generates got people once again talking about the fading jeans company. Even when the looney lefties began to attack the ad for promoting white nationalism – because the commercial for the blonde and blue-eyed beauty played with the word 'genes' – shares held their ground. Sales of American Eagle jeans didn't falter because let's face it, most Americans aren't idiotically woke. 3 Massive publicity, first positive, that the sultry starlet generates got people once again talking about the fading jeans company. American Eagle Enter Donald Trump. Our president is an expert at reading the mood of the country and he's not bad at finance either. As the controversy swirled, and knowing that his voters and most Americans have had it with woke, he pounced. First, it was at a press conference Monday when he was told that the actress – better known for her cleavage than her politics – is a registered Republican. He quipped 'Oh, now I love her ad.' A bit later, after he was probably given a full briefing on the contretemps, he followed with a Truth Social Post: 'Sydney Sweeney, a registered Republican, has the 'HOTTEST' ad out there. It's for American Eagle, and the jeans are 'flying off the shelves.' Go get 'em Sydney! …The tide has seriously turned — Being WOKE is for losers, being Republican is what you want to be. Thank you for your attention to this matter!' Shares responded, soaring by a whopping 30% in just a few hours to close Monday at $13.08. 3 Sales of American Eagle jeans didn't falter because let's face it, most Americans aren't idiotically woke, Charles Gasparino writes. Getty Images Bob Sloan, the CEO of S3 and my partner in the 'Risk and Return' podcast, is the godfather of deciphering short and long-holding stock data. He tells me shorts are now breaking even with their bets but the stock is 'getting squeezier,' which means it's entering dangerous territory for negative trading bets. Another Trump tweet, and some improving fundamentals like a spike in jeans sales based on the controversy could easily put it in squeeze land, Sloan added. The stock's surge is a rare win for a company that reported sub-par performance in the latest quarter, even showing a loss as sales slipped from a host of headwinds – from higher tariff-related costs to increases in promotional expenses. Charlie Gasparino has his finger on the pulse of where business, politics and finance meet Sign up to receive On The Money by Charlie Gasparino in your inbox every Thursday. Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters But it also might bring us back to the 'squeeze days' when sharp increases in the price of a handful of beaten-down and heavily-shorted stocks became national news. In a short sale a trader borrows a stock, sells it, and hopes to make money repaying the borrow at a lower price. The borrower loses money if the stock rises – and wads of it if he's 'squeezed' by ever high prices— which is what happened during the meme craze. Stay tuned to see if that cycle repeats itself.
New York Post
28-07-2025
- General
- New York Post
How many close friends do you really need? New research shows a certain number is attainable
In 2025, many of us are living alone. Or we live with housemates, cotenants, flatmates – people who may share a fridge, a lease, even a dog, but not necessarily our inner world. While the population swells in our cities, and digital devices keep us constantly connected, many of us live in a kind of emotional isolation. We go to work, we cook our meals, we scroll our phones, we answer messages – and still feel deeply alone. Advertisement For generations, it was a given that our romantic partner, our spouse, was also our closest confidante – the person we could cry in front of, confide in, lean on when the day had simply been too much. But for some, the presence of a partner only throws the lack of connection into sharper relief. Intimacy cannot be assumed. And for the growing number of people living solo, the question becomes starker: if not a partner, then who? 5 On average, people with high well-being have five people they can rely on; those with poorer mental health report just over three. Donald Pearsall / NY Post Design The answer, it turns out, is friends. Not a friend. Friends – plural. Research from News Corp's Growth Distillery with Medibank reveals that those with the best self-reported mental wellbeing are also those with the most people in their corner. On average, people with high well-being have five people they can rely on; those with poorer mental health report just over three. Advertisement That gap might sound small, but in practice, it's enormous. It's the difference between feeling like there's always someone you can call, and running through a dwindling mental list of names when things start to unravel. The data is compelling. It confirms what many of us know instinctively, but sometimes forget to prioritise: that connection is not an optional extra — it is vital. Friendship is not a decoration for a busy life. It is one of the structures that hold us upright. 5 Research from News Corp's Growth Distillery with Medibank reveals that those with the best self-reported mental wellbeing are also those with the most people in their corner. oneinchpunch – And yet, many Australians don't feel able to build or rely on that structure. The research also found that nearly half of us feel unprepared or unsure how to talk about mental health – even when someone turns to us for help. Advertisement And when it comes to talking about our own struggles, we hold back out of fear: not fear of judgement, but fear of burdening others. We silence ourselves to protect the people we care about, not realising that this silence builds barriers where we need bridges. What emerges from this research is not just a picture of loneliness, but a profound uncertainty about how to connect in meaningful ways. Many of us are deeply social in practice – attending events, replying to group chats, showing up for work drinks – but feel emotionally cut off. We keep things light. We're funny, dependable, and generous. But not vulnerable. Not fully ourselves. And in doing so, we miss out on the nourishment that true connection can bring. 5 Friendship is not a decoration for a busy life. It is one of the structures that hold us upright, according to the research. Xavier Lorenzo – Advertisement It's tempting to try to solve this with another app, a new social initiative, a government-funded campaign. And those all have their place. But there's something more elemental at stake here – something that doesn't require policy or innovation, but courage. We need to talk to our friends. Really talk. We need to be brave enough to say, 'I'm not okay.' Or even just, 'I'm struggling today.' We need to listen to each other without scrambling for solutions. To be present, even if we don't have the perfect words. Of course, that kind of honesty doesn't appear overnight. It takes time and trust. But the alternative – isolation, both physical and emotional – carries its own costs. Mental ill-health is not just a personal issue. It's a public one. It affects families, workplaces, healthcare systems, and communities. And it's growing. We cannot afford to pretend that mental well-being is something people can cultivate entirely alone. The most resilient among us still need others. 5 We need to talk to our friends. Really talk. We need to be brave enough to say, 'I'm not okay.' Or even just, 'I'm struggling today.' StratfordProductions – That's why the link between support networks and mental health is so powerful. It gives us something tangible to work with. If we want to improve wellbeing, we can start by expanding our circles. That might mean reaching out to old friends and suggesting a catch-up that's more than just a walk-and-talk. It might mean gently probing when someone gives a breezy 'I'm fine' that doesn't ring true. It might mean noticing who is always the listener and never the speaker – and inviting them to take up space. These small actions don't always feel like mental health interventions, but they are. A text message that says 'thinking of you' might be the first step out of someone's emotional fog. A regular coffee catch-up might become someone's only appointment they truly look forward to. We don't need to be therapists to be impactful. We just need to be consistent and willing to show up – even imperfectly. And we need to remind ourselves, too, that we are not burdens. If someone cares for us, they probably want to know how we really are. It is not weak to need others. It is human. 5 If we want to improve wellbeing, we can start by expanding our circles. That might mean reaching out to old friends and suggesting a catch-up that's more than just a walk-and-talk. Adene S/ – Advertisement In a culture that prizes independence and stoicism, this may feel radical. But if the research tells us anything, it's that no one thrives in isolation. We thrive in connection. We flourish in friendship. So maybe the real message from all this data isn't about mental health campaigns or social trends. Maybe it's simpler. Maybe it's this: pick up the phone. Send the message. Make the plan. Build the net before you fall. Because one day, you might need it. And so might someone else.
New York Post
02-06-2025
- Politics
- New York Post
How Ukraine pulled off its stunning ‘Pearl Harbor' attack against Russia
Ukraine was able to pull off its stunning 'Operation Spider Web' attack on Russian air bases and nuclear fleet by hiding explosive-laden drones in wooden sheds, according to officials. Kyiv's secret services (SBU) stashed the attack drones inside the roofs of the sheds, which were loaded onto trucks that were driven to the perimeter of the air bases, Ukrainian authorities revealed in a statement shared on social media. The roof panels were then lifted off by a remotely-activated device so the drones could fly out and enact their devastating attacks. 5 'Operation Spiderweb' Image showing mobile wooden cabin as it self destructs after launching dozens of drones hundreds of miles inside Russia. 5 This undated and unlocated handout picture, released on June 1, 2025 by the Security Service of Ukraine shows Ukrainian military drones. SECURITY SERVICE OF UKRAINE/AFP via Getty Images The dramatic and carefully planned Sunday assault took Russian President Vladimir Putin and his forces completely unaware. Some 34% of Russia's Tu-95 bomber fleet, equipped to carry nuclear payloads, was reportedly wiped out in the raids on five air bases across the country, the SBU said on Sunday. 5 A view of a fire at the territory of an agrofirm after Ukrainian drones struck near Rylsk in the western Kursk region of Russia. AP A total of 41 Russian warplanes were hit in the strikes, causing an eye-watering $7 billion in damage, Ukrainian officials said. 5 'Operation Spiderweb' Images showing the drones used in the attack placed in the roofs of 'mobile wooden cabins' which were then being transported by truck when they were launched. 5 The map of the Ukraine drone attacks in Russia. Donald Pearsall / NY Post Design The attack, which involved strikes on bases some 4,000 miles from the Ukrainian border, has already been branded 'Russia's Pearl Harbor' by gloomy pro-Moscow military bloggers. Ukrainian President Volodymyr Zelensky praised the 'absolutely brilliant outcome' of his country's 'longest-range operation' to date, writing on the messaging app Telegram.
