Mayor wants a vacancy tax for empty storefronts

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.

Landlords currently have a legal right to hold out for the rent levels…

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