{"id":333542,"date":"2026-08-31T03:06:51","date_gmt":"2026-08-31T03:06:51","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/333542\/"},"modified":"2026-08-31T03:06:51","modified_gmt":"2026-08-31T03:06:51","slug":"the-continuing-vacancy-of-112-montague-can-anything-be-done","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/333542\/","title":{"rendered":"The Continuing Vacancy of 112 Montague \u2013 Can Anything Be Done?"},"content":{"rendered":"

We\u2019ve posted before several times, most recently\u00a0here<\/a>, 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.\u00a0 The latest comes from\u00a0Sophie Penenberg in The Eagle<\/a>\u00a0(note: this may be paywalled for non\u00a0Eagle\u00a0subscribers), who notes that the building\u2019s owner, \u201cNathan Royce Silverstein, a prominent real estate manager in New York, New Jersey and Florida\u201d whose \u201cfamily has reportedly held the property since 1936,\u201d is holding out for \u201ca national chain with a \u2018Triple-A\u2019 or \u2018Triple Mint\u2019 credit profile.\u201d<\/p>\n

The\u00a0Eagle\u00a0story quotes\u00a0City Councilmember Lincoln Restler<\/a>,<\/p>\n

It is worth us taking a hard look at whether the time has arrived for a commercial vacancy tax \u2026 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.<\/p>\n

That sounds like a tough legislative drafting assignment.<\/p>\n

Share this Story:<\/p>\n

<\/a>