Retail Vacancies Spike In New York City
PYMNTS
SEPTEMBER 27, 2019
As New York City ’s vacancy rate has skyrocketed by nearly 50 percent, a report released by City Comptroller Scott Stringer showed that the amount of empty retail space in the city has doubled in the last 10 years or so. He added pointed to increasing rents, “regulatory hurdles” and property tax hikes.
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