Mark Levine

June 5, 2026

Here are the NYC neighborhoods with the highest storefront vacancy rates

Though New York City’s storefront vacancy rate has rebounded since the pandemic, some neighborhoods still have retail vacancy rates as high as 20 percent, according to a new report. Released on Thursday by the city's Comptroller Mark Levine, the report, titled "Who's Minding the Storefront? An Analysis of Storefront Vacancies," found that while the citywide vacancy rate has returned to near pre-pandemic levels, parts of Lower Manhattan, Battery Park City, Northern Brooklyn, and Western Queens continue to see retail vacancy rates at or above 20 percent. Citywide, roughly 15,700 storefronts remain vacant, representing an 11 percent vacancy rate, about half a percentage point above pre-pandemic levels.
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Policy

NYC pied-à-terre tax could raise less than Hochul’s $500M estimate, report finds

Credit: Andy on Unsplash

May 1, 2026

NYC pied-à-terre tax could raise less than Hochul’s $500M estimate, report finds

By Aaron Ginsburg

Gov. Kathy Hochul's proposed pied-à-terre tax could generate up to $500 million annually, but multiple variables could affect the final revenue, according to a report released Thursday by New York City Comptroller Mark Levine. Introduced last month, the governor's proposed tax, which would place a surcharge on secondary homes in the five boroughs valued at $5 million and above, could generate nearly $500 million from just over 11,200 properties. The comptroller's analysis examines several factors, including exclusions for rented units and "behavioral responses" to the tax, which could lower the actual revenue to between $340 million and $380 million.
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NYC plans to invest $4B from pension funds for affordable housing

New rental building The Ellery at 312 West 43rd Street was financed by the A.F.L-C.I.O Housing Investment Trust, which finances middle-income housing built by union employees. Rendering courtesy of the NYC Department of Housing Preservation and Development.

April 20, 2026

NYC plans to invest $4B from pension funds for affordable housing

By Aaron Ginsburg

New York City Comptroller Mark Levine plans to invest $4 billion from the city's public pension funds for affordable housing development. Levine on Thursday unveiled the "NYC Housing Investment Initiative," which will more than double the funds' current real estate portfolio and help finance thousands of new homes through mixed-income projects, office-to-residential conversions, and renovations, as first reported by the New York Times. The plan calls for roughly $1 billion in annual pension investments over the next four years.
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NYC proposes new high-density zoning districts if state lifts floor-to-area ratio cap

The San Remo on the Upper West Side could not be built today under the existing 12 FAR cap. Photo by Bert Sagi on Unsplash

March 28, 2024

NYC proposes new high-density zoning districts if state lifts floor-to-area ratio cap

By Aaron Ginsburg

Mayor Eric Adams is calling on the state to lift a policy restricting the density of residential towers to allow for bigger apartment buildings and more affordable housing in New York City. Enacted in 1961, the existing floor-to-area ratio, or FAR, cap allows buildings up to 12 times the size of their lot. On Thursday, the Adams administration called on state lawmakers to eliminate the cap and proposed two new zoning districts in NYC that would permit buildings to be constructed up to 15 and 18 times their lot size, while also including affordable housing.
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Manhattan BP proposes razing part of FDR Drive and replacing it with green space

Photo courtesy of Mark Levine on Flickr

September 25, 2023

Manhattan BP proposes razing part of FDR Drive and replacing it with green space

By Aaron Ginsburg

Manhattan Borough President Mark Levine has a plan to revitalize Lower Manhattan's waterfront by tearing down part of FDR Drive. Levine last week unveiled a plan to remove a raised section of the highway between the Brooklyn Bridge and the Battery Park Underpass and replace it with green space and bike lanes.
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Policy

MSG should stay above Penn Station, says Manhattan borough president

Rendering: ASTM North America

May 22, 2023

MSG should stay above Penn Station, says Manhattan borough president

By Aaron Ginsburg

Madison Square Garden should be granted a new operating permit and be allowed to stay put, as long as it gives up some of its space for the expansion of Penn Station, Manhattan Borough Mark Levine said on Monday. As first reported by Crain's New York, Levine's recommendation includes demolishing MSG's theater and replacing it with a new grand entrance facing Eighth Avenue, a new mid-block entrance, and a double-height concourse. To do this, Levine advises giving MSG a new five-year special permit, if the Garden works with the city, state, and railroads to redevelop Penn Station and the surrounding area.
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Manhattan pol wants to turn lane of traffic on West Side Highway into a two-way bike lane

All images courtesy of Manhattan Borough President Mark Levine’s Office unless otherwise noted

August 2, 2022

Manhattan pol wants to turn lane of traffic on West Side Highway into a two-way bike lane

By Devin Gannon

Manhattan Borough President Mark Levine wants to turn one lane of car traffic on the West Side Highway into a two-way protected bike lane. The proposal aims to reduce pedestrian and cyclist congestion on the Hudson River Greenway, the busiest bikeway in the nation, by repurposing one of the highway lanes into a four-mile bike lane between Chambers Street and 57th Street.
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Transit

NYC might get a COVID-19 memorial on Hart Island

Photo by David Trawin on Flickr

July 28, 2020

NYC might get a COVID-19 memorial on Hart Island

By Devin Gannon

A New York City elected official wants to create a memorial on Hart Island dedicated to those who died from the coronavirus. City Council Member Mark Levine is set to introduce on a bill on Tuesday that would create a task force to develop a way to honor the hundreds of COVID-19 victims buried on the Island, which has served as the final resting place for poor and unclaimed New Yorkers since the Civil War.
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Policy

City Council Announces New Task Force on Tracking and Preserving Affordable Housing

Image by Jorbasa Fotografie / Flickr

May 14, 2015

City Council Announces New Task Force on Tracking and Preserving Affordable Housing

By Michelle Cohen

City councilman Mark Levine announced Wednesday the creation of the Affordable Housing Preservation Taskforce, which will track existing affordable units across the city on the brink of becoming market rate. The task force is the latest in an effort to address the monumental task of preserving the city's affordable housing. According to Crain's NY, the 14-member task force, which will be led by Council Speaker Melissa Mark-Viverito, will work with residents, landlords and nonprofits to identify buildings headed toward market rate rent status. Rent regulation, for example, stipulates that rent can only be raised by a certain percentage each year as set by the New York City Rent Guidelines Board.
More on the new task force

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