New York Post

DeB eyes vacancy tax on choosy landlords as storefront­s are . . .

- By RICH CALDER, ELIZABETH ROSNER and RUTH BROWN

Give that mom and pop a shop — or else!

As a growing number of vacant storefront­s dot the city, Mayor de Blasio on Friday said he wants to penalize landlords who leave the shopfronts sitting empty.

“I am very interested in fighting for a vacancy fee or a vacancy tax that would penalize landlords who leave their storefront­s vacant for long periods of time in neighborho­ods because they are looking for some topdollar rent but they blight neighborho­ods by doing it,” he said on WNYC. “That is something we could get done through Albany.”

A number of recent studies have found retail corridors in prosperous Manhattan neighborho­ods are struggling with double-digit vacancy rates, from 27 percent on Amsterdam Avenue on the Upper West Side to 20 percent on a stretch of Broadway in Soho. Five percent or less is generally considered “healthy.”

“It’s the opposite of what you would expect. There’s a real-estate boom going on for the last 20 years. Why does it look like a ghost town? Tribeca, Soho — these wonderfull­y overpriced, beautiful properties sitting over empty spaces for years,” said Louis Puopolo, exec at Douglas Elliman Commercial.

The borough’s overall vacancy rates doubled from 2.1 percent to 4.2 percent between 2012 and 2017, according to a City Council report published in December. The report blamed landlords charging skyrocketi­ng rents right as brick-and-mortar retailers are struggling with growing online competitio­n.

“Many landlords prefer to wait for area rents to increase before committing their real estate to long-term leases with relatively fixed terms,” the paper from the Economic Developmen­t Committee claims.

“If these landlords have deep pockets and large property portfolios, it may make more financial sense to claim a tax loss on vacant property than to rent at a non-optimal value.”

Locals say the abandoned storefront­s are an eyesore.

“I feel like the empty stores inspire more vandalism and more people to loiter in the area, it looks so abandoned,” said Steven Ortega, 24, a teacher from Greenwich Village. “The area is being gentrified, and with that comes higher prices of rent. They keep pushing out the old tenants. Landlords should either be fined or have a penalty.”

Residents say they thought it was bad when the chain stores moved in — but no stores is worse.

“This neighborho­od is just so blah. First it was cute little self-own shops, then it turned into Burberry, Coach and Juicy, and now these stores sit empty. Even my kids notice,” said Allison Smith, 38, an architect who has lived in the West Village for 12 years.

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