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De Blasio: I will lobby for vacancy tax on landlords of empty storefronts

Discussion in 'Off-Topic' started by mikeyp, Jan 10, 2019.

  1. mikeyp

    mikeyp NES Member

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  2. new guy

    new guy NES Member

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    Another moron socialist who doesn't understand economics. Guess why they're vacant, shitbag?
     
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  3. Prepper

    Prepper NES Member

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    Tyrants are gonna tyrant.
     
  4. Chevy 2 65

    Chevy 2 65 NES Member

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    [​IMG]
     
  5. eboos

    eboos

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    The only result that I could see is a devaluation of commercial real estate being offered for sale. It is not as though commercial landlords are suppressing supply by not making rental space available, that would be stupid.
     
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  6. Mesatchornug

    Mesatchornug NES Member

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    Pretty sure that's the plan.

    "If your space is vacant, you're charging too much," says everyone that doesn't want land owners to decide their own risk tolerance.
     
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  7. Prepper

    Prepper NES Member

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    If business is bad and no one else wants to buy the rathole property, what else am I supposed to do anyway? Will the law be satisfied if I let squatters come in? At least it won't be empty anymore. Or maybe just burn the place down? Is an empty lot exempt?
     
  8. HARRYM

    HARRYM NES Member

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  9. Rob Boudrie

    Rob Boudrie

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    NY already has a vacancy tax... it's called property tax.

    As to economics - they are vacant because market rent is too low, not because they set the rent too high. I expect many of them are not to code or would require significant renovation. If the market won't support triple-net leases with the tenant doing the reno, and the market will not provide a reasonable ROI on a landlord funded reno, the places will sit vacant.
     
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  10. mikeyp

    mikeyp NES Member

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    A lot of places have closed due to rent being too high as well

    West Village Art Haven Cornelia Street Cafe Will Close After 41 Years

    There was another one I was reading about earlier that had the rent go from like 3k/month in 89 to over a lot more now, trying to find it
     
  11. mikeyp

    mikeyp NES Member

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  12. WanMan99

    WanMan99 NES Life Member NES Member

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    Every time he opens his mouth I remember what a complete, and utter moron he is.
     
  13. peterk123

    peterk123

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    Vacancy tax. Brilliant. Cities have the power to foreclose on a property for non-payment of taxes. Slowly but surely you could have a number of government owned properties. He is not an idiot, he knows exactly what he is doing. He understands the end game. Dumb as a fox.
     
  14. wilson911

    wilson911

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    Exactly right....this is just the next step toward government seizure.
     
  15. new guy

    new guy NES Member

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    Isn't a retail space that's up for lease itself commercial activity?

    There's the F word again.
     
  16. jpk

    jpk

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    Tyants gonna tax people into prosperity
     
  17. JackOfAllTrades

    JackOfAllTrades

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    So... If I am a landlord and I want to keep some of my storefronts empty for some reason, what is to stop me from renting the space to my sister's cousin's former roommate for $1 per month? They do nothing with the space, but it is rented. I just buy them lunch once a month when I pick up the check.

    Boom, my space is "rented", no tax and all it costs me is lunch once a month.
     
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  18. boiler_eng

    boiler_eng NES Member

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    Specifically Too High for their commercial activity.

    I could have an awesome wood splitting area if when my neighbor's house was sold I could have bought it for $50 .... but the price was too High!

    Can I buy a truck for what it cost in 1989, or hire someone for that?

    If the place leased the performance area during the week days to one of those flexible office space places would they have made a profit? Someone somewhere has to take a haircut or ante up for the "culture", "niche", or "legacy" value of places that are not the highest and most profitable use for something. Governments will subsidize or take a tax revenue cut on farm land in places. If someone wanted to buy the building and charge the cafe an economically viable rent I wouldn't argue. However, I would not venture to say the building owner here was charging too high a rent.

    By definition to stop rent from increasing infinitely SOMEONE has to just turn over the keys and decline to pay the asked rate.
     
  19. Pete85

    Pete85

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    From reading the article, it sounds like they think that's exactly what's happening.

    He's saying that they're taking properties off the market to artificially jack up rents, but that makes no sense at all. If they aren't renting the space out, they're making $0 off of it, while still incurring expenses such as property taxes, utilities, insurance, maintenance, etc.
     
  20. timbo

    timbo Navy Veteran NES Member

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    I see a lot of lightning strikes in NYC's future...getting rid of the tax liabilities.
     
  21. Prepper

    Prepper NES Member

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    More than likely, the test is going to be that the store actually needs to look busy to the average person. A fake rental would be too obvious. Tyrants won't let you escape that easily, but I do applaud out of the box thinking to combat coercive government.
     
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  22. mikeyp

    mikeyp NES Member

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    Breakfast place near me was in a plaza, along with a pretty good pizza parlor and some other businesses. The owner of the plaza was doubling their rent and making them chip in for a new septic. Pizza place was there for like 20 years. Breakfast place has been there for around the same time I think. Pizza parlor closed. Breakfast place moved up the road to a brand new building. Not sure how the packy and "Thai" place are doing, the other couple places that were there are gone. Empty store, you're not making money.
     
  23. JayMcB

    JayMcB NES Member

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    What needs to be taxed is the vacany in Deblasio's head
     
  24. Lip

    Lip Army Veteran NES Member

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    Free, free at last. Hudson New Hampster.
    So now libiots will punish you
    Hopefully he follows in JFK's, RFKs footsteps.
     
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  25. boiler_eng

    boiler_eng NES Member

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    Not going to argue that it is probably mostly in the landlord's hands that the place is empty. It all comes down to how fast the space can be filled.

    Long time pizza place where I grew up closed because building got bought and New owner communicated he was raising rent. Place passed on renewing as owners were getting older, and the landlord's son or nephew was in the business and looking to expand. Storefront turned over fairly quickly, not sure how if it lasted.

    However landlord's should be entitled to jack up the rent and if they shoot themselves in the foot, that's the cost of being bad at business.
     
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  26. swatgig

    swatgig NES Member

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    How about an extra tax on disabled people to coerce them to work?
     
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  27. Pete85

    Pete85

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    That would pay off the national debt with money leftover.
     
  28. mothybee

    mothybee NES Member

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    Mmm. wonder how many condos for illegals that would make?
     
  29. xtry51

    xtry51 NES Member

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    [rofl][rofl][rofl][rofl][rofl]

    Do it. Please do it now.
     
  30. Dennis in MA

    Dennis in MA NES Member

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    EXACTLY!!! One has to wonder if he's thought that HE will be subject to the tax.
     

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