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fuck this whole system
WTF is wrong with landlords?!? This is a stable business. What on earth do they expect to happen by kicking this business to the curb? And to knowingly put people out of work during this time of pandemic and economic crisis is unconscionable.
what @8:30 am said
Damn. Even during a pandemic and a financial depression, many NYC landlords are still greedy and apathetic beyond measure. What happened to humanity?
This is BS. I feel terrible for these owners/employees.
I hope someone will take their phone/tablet and show the folks at Finest Deli these comments that empathize with them. They must be reeling. It is unconscionable that they are being evicted during a pandemic. The landlord would rather that corner sit there empty?? Gonna be hard to find new tenants right now. smh
The pandemic has really confirmed what most of us already have known for quite some time-- Many landlords are extremely greedy, needlessly cruel, completely stupid businessmen.
The pandemic has brought on all sorts of social ills that our nation has yet to face and resolve. This bickering back and forth between our politicians over the coronavirus stimulus package with no avail is just the tip of the iceberg.
How short-sighted of the landlord. Who else do they think will rent this space right now? They ought to cut the deli a break in rent until things get back to normal. Is it better to get some rent or have this space sitting empty for two years?
Hello all,We will close by the end of this month. We just can not pay $18,000 in rent.
Most likely, the landlord will be writing off the empty store front for tax purposes. Months without rent because there is no business setting up could mean a big tax write off. I'd assume this is the case because there are store fronts in the city that sit empty for years. And we live in capitalistic society, where things fly on the whim because of there is money or lack thereof. Businesses come and go like inventory on the store's shelf.
Re: 8:59 "Most likely, the landlord will be writing off the empty store front for tax purposes." This Urban myth keeps going around and is completely baseless. Like any business there is no tax write off for profits you don't make.https://www.westsiderag.com/2019/03/21/the-answer-column-do-landlords-get-tax-breaks-for-vacant-retail-space
At 8:46 AM - That is a good explanation. But I think there is something else like depreciation expense and other expenses that could be written off on the premise despite the store front not being used. And this only works if the landlord has more than one property. Many landlords own more than one property. So the property at a loss offsets the profits coming from other property or properties. Another thing is that rental property expenses claimed without offsetting profits are carried forward to subsequent years when there is a profit and thus less taxes are paid because of the offset.
8:46, we have been to this rodeo before. Simply put, if you lose money on one building you can deduct the loses from the profits on another building you own (and maybe from other types of income, I don't know). So there are tax advantages to be had. This is what I have read in the NYT and elsewhere. I think the urban myth is that it is a myth that there are tax benefits.
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