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You nerd-snipped me into digging through court records.

The case was 655669/2021 in the New York County Supreme Court (the Supreme Court is the name for the first-tier courts in NY state).

Docket: https://iapps.courts.state.ny.us/nyscef/DocumentList?docketI...

The parties were in settlement talks and postponed the hearing on an injunction and then settled and dismissed.

Wow, I walk there all the time and I’ve never noticed

People underestimate the value of predictability.

Not really. looks like they pay nearly $2mil a year every year right now already. You can look up Block 810 Lot 40 here: https://a836-pts-access.nyc.gov/care/search/commonsearch.asp...

The funniest thing about internet land value tax discourse is all of the people who don’t realize that land is already taxed in cities like this.

As the other commenter discovered, the tax rate is very significant for this property.

But the core proposition doesn’t make sense, either. A land value tax wouldn’t force a property to be used for a less profitable use case. A LVT forces the property to be used for the most profitable use case because the tax would prevent people from using it for less profitable activities because that’s the only way to pay the high LVT.

Land value tax is an evil concept. Having to pay for land you already own is insane. Also, people already pay property tax, why should there be an additional tax.

Every bedroom of a rental is required to have a window in New York.

But in this part of town, the advertising rights alone probably vastly exceed any possible revenue from renting the building for residential use. It’s kind of like the tiny building in Times Square that has the ball on top. I don’t think people even realize there’s a building behind all of the billboards, but it was original New York Times building.

The ground floor is a Sunglass Hut from the looks of things. Then the first floor looks like it might be offices, or a fancy apartment. The other floors could be storage space for the tenants and the landlord.

My first instinct was perhaps they raised the ceiling in the first floor to occupy some of the second. But thinking on it more, high ceilings without windows to go with them usually don't make the space feel that much bigger. You can spend up to a couple feet on crown molding but beyond that you're well into diminishing returns.

Mandamus will tax it

Source? My understanding is this is no longer true

^pepper^upper

Though I have replaced pepper control arms on a vintage Mustang once. Rust does that.

Neglect and dust. With the billboards up nobody not even the rain has been washing the facade.