Wednesday, February 13, 2019

Mayor Wants a Vacancy Tax for Empty Storefronts

NREI
Vacant storefront windows throughout New York City are an urban blight. And with traditional retail being such a tough market, they're becoming more common.

Mayor Bill de Blasio has a plan to solve this problem.

While in Albany, the mayor called for the passage of a "commercial vacancy tax." What this would do is force retail locations from keeping their properties empty or holding out for a high-paying, long-term tenant.. . . more