City Council seeks to ramp up oversight of vacant property

Landlords could face new fines on a weekly basis

TRD New York /
Jan.January 30, 2019 02:30 PM

A vacant lot (Credit: iStock)

Six proposed bills seek to ramp up oversight of vacant property in the city, including one that would charge landlords weekly fines.

One of the proposed City Council measures would require landlords to annually register their land — once it’s sat vacant for a year — with the city. Those who fail to do so face fines of up to $500 per week, Curbed reported.

“Vacant properties are troublesome for our communities they bring down property values and they attract crime or create health hazards,” said Council member Robert Cornegy, Jr., chair of the council’s committee on housing and buildings. “They’re properties that can be used for housing for low-income families, as community gardens, or as playgrounds.”

This isn’t the first time that the city has targeted vacant properties. In November 2017, the de Blasio administration released an update to its affordable housing program that included a proposal to reclassify residential-zoned vacant land to increase tax bills for such properties and to “incentivize owners to make their sites productive.”

A representative for the Department of Housing and Preservation noted that relying on landlords to self-report may lead to unreliable data. [Curbed] — Kathryn Brenzel


Related Articles

arrow_forward_ios
Nightingale's Elie Schwartz and Madison's Brian Shatz (Whale Square)

Nightingale buys Whale Square in Sunset Park for $84M

Nightingale buys Whale Square in Sunset Park for $84M
Investors worry that New York City’s battered commercial real estate sector is indicative of larger issues nationwide with hotels, restaurants and retail. (iStock)

New York’s CRE woes could spread nationwide: investors

New York’s CRE woes could spread nationwide: investors
Subversive CEO Richard Acosta (Photos via ICSC; iStock)

Riding high: Inception, Subversive to launch publicly traded cannabis REIT

Riding high: Inception, Subversive to launch publicly traded cannabis REIT
Gov. Andrew Cuomo announced that movie theaters in some New York counties can reopen, but NYC’s theaters are excluded for now. (Getty; iStock)

Cuomo: Movie theaters can reopen — but not in NYC

Cuomo: Movie theaters can reopen — but not in NYC
Blackstone’s Stephen Schwarzman, Roku CEO Anthony Wood and Coleman Highline in San Jose (Blackstone; Wikipedia Commons; Coleman Highline)

Blackstone buys Roku’s Silicon Valley office buildings

Blackstone buys Roku’s Silicon Valley office buildings
IKEA Chief Sustainability Officer Pia Heidenmark Cook (IKEA, iStock)

Ikea will buy back your old furniture on Black Friday

Ikea will buy back your old furniture on Black Friday
107 Chambers Street and Allison and Frederick Thompson (Google Maps, Tribeca Health & Fitness) 

Another fitness studio in Manhattan goes belly-up

Another fitness studio in Manhattan goes belly-up
Blackstone’s Kathleen McCarthy with 440 Saw Mill River Road, Ardsley, New York and 1000 Gateway Boulevard in San Francisco, California (left) (Blackstone; BioMed Realty)

Blackstone bets big on life-science buildings with $14.6B deal

Blackstone bets big on life-science buildings with $14.6B deal
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...