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New York Moves to Regulate Commercial Space to Deal With Empty Storefronts

Proposed Legislation Would Create Rent Guidelines Board
A proposed New York City commercial rent guidelines board would have oversight of space including retail stores up to 10,000 square feet. (Getty Images)
A proposed New York City commercial rent guidelines board would have oversight of space including retail stores up to 10,000 square feet. (Getty Images)
By Diana Bell
November 18, 2019 | 10:32 P.M.

New York City officials are set to consider whether to limit commercial real estate rents as a way to reduce empty storefronts across the biggest U.S. market, a closely watched issue in a politically charged year for local property development.

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