Challenging Retail Market, Pending legislation is problematic

Facing A Retail Vacancy Crisis, Should the NYC City Council be prepared to help?

(click on the link below to read the article)

https://gothamist.com/2019/08/09/empty_storefronts_retail_blight.php?utm_medium=social&utm_source=email&utm_campaign=

Facing A Retail Vacancy Crisis, Is NYC Ready To Take Action to support the survival of Small Businesses in NYC?

Small Business Jobs Survival Act, This bill would give tenants the right to a 10-year lease renewal and guarantees an arbitration process to decide the rent increase. It has been opposed by property owners as a form of commercial rent control. It is equally problematic for business owners, who need timely decisions, without the cost in time and money to go through drawn out arbitration process.

Comments: If you take a few minutes to read this article, it quickly becomes clear that the SBJSA, will not address the issue in a way that will satisfactorily meet the needs of either the small business owner or landlord.

Let me know what you think; you can email me directly @ or call or text at 917-991-6560

 

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Harry Safter

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