This is becoming the biggest joke. Here we are NYC, capital of the world! This is where you come when you are young and brave with a new idea. Not anymore. I have been in my three stores for 24,20, and 14 years. My rent has gone from $108,000 per year and $2,000 real estate tax share per year to $245,000 rent and$42,000 real estate tax which goes up every year. Once a property is vacated, the landlord receives a tax deduction for having an empty store until he gets a bank or a Duane Reade or the like.
Our city has been destroyed by greedy landlords. Everything now is unaffordable so business goes down and sales tax goes down and payroll tax goes down because people can’t afford to spend money here anymore; it’s a big vicious circle. No one will come here when it is only big corporate stores. All the mom and pops are out. We have to revisit the Small Business Survival Act to save what is left. So many of my neighbors friends and customers are leaving New York because it is now only for the very wealthy!
A local resident