We’ve posted before several times, most recently here, about 112 Montague Street (photo by C. Scales for BHB), which has been vacant since 2012, when street level tenant Starbucks relocated to 134 Montague. The latest comes from Sophie Penenberg in The Eagle (note: this may be paywalled for non Eagle subscribers), who notes that the building’s owner, “Nathan Royce Silverstein, a prominent real estate manager in New York, New Jersey and Florida” whose “family has reportedly held the property since 1936,” is holding out for “a national chain with a ‘Triple-A’ or ‘Triple Mint’ credit profile.”
The Eagle story quotes City Councilmember Lincoln Restler,
It is worth us taking a hard look at whether the time has arrived for a commercial vacancy tax … However, it would have to be tailored to go after bad actors who choose to leave their property vacant and not penalize small property owners who are trying to find good businesses to fill their spaces and are struggling.
That sounds like a tough legislative drafting assignment.
Share this Story:
