High Rent Blight

Report: Mayor Mulls Retail Vacancy Tax for Greedy Landlords

Posted April 3, 2018 at 5:03 am

The practice of warehousing retail properties – intentionally keeping stores empty to attract high rents – could potentially conclude. Mayor de Blasio is reportedly mulling a plan to implement a “vacancy tax” on these greedy landlords. According to a dispatch in the New York Post, the poshest city neighborhoods are hardest hit. “Retail corridors in […]

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‘The Kooples’ Gives Thor Equities an Ultimatum to Lower Retail Rent in SoHo

Posted February 28, 2018 at 5:06 am

Even the richest SoHo retailers are fighting back against rent gouging. At Thor Equities’ 115 Mercer Street, The Kooples gave a stiff ultimatum. Lower the rent or they’ll leave. The French clothier is reportedly threatening to vacate its space six years ahead of schedule unless Thor cuts a deal on the monthly dole, currently pegged […]

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