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Old 09-27-2019, 08:21 PM
 
284 posts, read 77,696 times
Reputation: 328

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Quote:
Originally Posted by OyCrumbler View Post
Agreed on a vacancy tax of some kind! I recognize that's just a quick first try--I'd add that there be some kind of metric to consider the location in case there is actually a lack of demand for the area. There are a lot of taxes and fees that are proposed that are excessive and terrible for business and there are some that should be rescinded or reduced. However, this is one of the few additional taxes that should be levied since it's not much good for the city or its residents either.

if you were to try this ****e on me, i'd just rent it to a "vendor" whose store hours are 5 minutes a month on sunday at 4am, selling poop on a stick for $50k.

don't you geniuses get it? the last thing we need is more regulation.
with more govt intervention, there are either loopholes to be found, or unintended consequences that harm more than help.

everyone wants higher minimum wage. well guess what. at $15/hr, even if you could afford the rent, you can't afford the help.

Last edited by blahblahyoutoo; 09-27-2019 at 08:30 PM..
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Old 09-27-2019, 08:58 PM
 
11,250 posts, read 9,605,034 times
Reputation: 6956
That would last 5 minutes before the regulations were changed to prevent that. Any such law would have rules to prevent fake rentals to circumvent the charge while keeping the space essentially empty.

Note that zoning code require's ground floor retail in many locations. Thus if for a reason, which is to promote street activity, an prevent long stretches of dead zones. Keeping this space empty subverts this purpose. So it wouldn't be improper for the city to put pressure on the LLs to keep these stores rented and active.

Quote:
Originally Posted by blahblahyoutoo View Post
if you were to try this ****e on me, i'd just rent it to a "vendor" whose store hours are 5 minutes a month on sunday at 4am, selling poop on a stick for $50k.

don't you geniuses get it? the last thing we need is more regulation.
with more govt intervention, there are either loopholes to be found, or unintended consequences that harm more than help.

everyone wants higher minimum wage. well guess what. at $15/hr, even if you could afford the rent, you can't afford the help.
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Old 09-27-2019, 11:45 PM
 
Location: In the heights
22,793 posts, read 24,214,930 times
Reputation: 12024
Quote:
Originally Posted by NJ Brazen_3133 View Post
What you say is true but what are you going to do with it if no one wants it? Right now residential is in high demand.

Aside from the things I listed, what else is there. A law office, and accountant office? Even with that, how many can you have in a two block radius? An art gallery, pet store, day care center maybe, I dont know but unless rents go back down to triple digits, you cannot have one every two blocks and expect to survive.
Residential is in high demand and so are storefront spaces on commercial streets since they can command such a large price premium over residential. The problem lies in the massive asking rents for commercial such that few in the market can touch it. It's likely that if the commercial prices were to go down, you'd find someone to lease at a higher price for a commercial storefront before you'd find someone at the same price for residential.
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Old 09-27-2019, 11:51 PM
 
Location: In the heights
22,793 posts, read 24,214,930 times
Reputation: 12024
Quote:
Originally Posted by blahblahyoutoo View Post
if you were to try this ****e on me, i'd just rent it to a "vendor" whose store hours are 5 minutes a month on sunday at 4am, selling poop on a stick for $50k.

don't you geniuses get it? the last thing we need is more regulation.
with more govt intervention, there are either loopholes to be found, or unintended consequences that harm more than help.

everyone wants higher minimum wage. well guess what. at $15/hr, even if you could afford the rent, you can't afford the help.
Sounds great, I'd be up for trying to mete out potential loopholes in a vacancy tax. I'm down for lowering other taxes, fees, and regulations because there are a lot of crazy ones from the city and state. I'm definitely in favor of a solid vacancy tax for commercial real estate in busy corridors though.

The help varies a lot depending on what your business is.
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Old Yesterday, 12:09 AM
 
21,734 posts, read 14,409,788 times
Reputation: 15289
Quote:
Originally Posted by BlakeJones View Post
It IS because of greedy landlords, more accurately because of unrealistic expectations. The internet has killed the stratospheric value of storefronts but they still have high value and landlords are not only refusing to come down they are asking for more
No, I'm sorry but you are just wrong. Even that some kind of comptroller Mr. Stringer and city's own recent data tell a different story.

Just comparing two areas on Staten Island (New Dorp Lane and Richmond Avenue) shows how things can vary:

https://www.silive.com/news/2019/08/...corridors.html

https://www.silive.com/news/2019/09/...tudy-says.html

Both have long histories as shopping drags on SI, but Richmond avenue began going down hill when SI Mall opened. In fact beginning in 1980's or so there was a slow but definite movement away from North Shore out to South Shore. Port Richmond in general went into decline, and the Avenue shows it; to put it bluntly many whites stopped going, and or moving out of Port Richmond all together.

New Dorp Lane is another matter; people out there still will hit that street for local shopping, and thus it isn't bad as Richmond Avenue.
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Old Today, 06:43 PM
 
6,628 posts, read 6,621,152 times
Reputation: 3055
Quote:
Originally Posted by OyCrumbler View Post
Residential is in high demand and so are storefront spaces on commercial streets since they can command such a large price premium over residential. The problem lies in the massive asking rents for commercial such that few in the market can touch it. It's likely that if the commercial prices were to go down, you'd find someone to lease at a higher price for a commercial storefront before you'd find someone at the same price for residential.
I wrote what I wrote assuming the demand for commercial is tanking naturally as opposed to Landlord purposely tanking commercial RE by absurdly increasing the price in order to drive renters away.
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