Commercial Rent Regulation

The Covid-19 pandemic, among its many impacts, has drastically underscored the need for ways to mitigate steep commercial rents, such as rent regulation and temporary rent relief. Several local politicians have suggested solutions, including the temporary suspension of commercial rent tax. This week, New York City Council Majority Leader Keith Powers, Manhattan Borough President Mark Levine, and Council Member Gale Brewer introduced legislation that would accomplish the latter.
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