“Neighborhood businesses may want these spaces, but too often landlords keep storefronts vacant rather than lower rents to a level small businesses can actually afford,” said Irene Tung, senior director…
As New York City housing costs continue to outpace incomes, the pressure ricochets through commercial corridors, pushing out some of the very businesses that define them.
A Department of City Planning report that examined 24 commercial neighborhoods across the five boroughs found a small increase in storefront vacancies over the last decade — but says the…
