Busting the retail vacancy myth

The persistent myth that New York is experiencing a retail vacancy “crisis” has once again captured the attention of some elected officials who are once again floating a new commercial rent control plan. The latest proposal was met with swift opposition from business leaders and homeowners throughout the city – and for good reason. 

The Brooklyn, Queens and Manhattan Chambers of Commerce, business improvement districts, along with advocates representing cooperative and condominium homeowners believe strongly that commercial rent control would have adverse effects on New York City, with severe unintended consequences. 

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RSK: Not sure that rent control for retail will solve the ongoing problem myself.