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Metropolitan DC Local Politics
Reply to "More profitable for DC landlords to "sit" on empty storefronts than rent at market rate??"
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[quote=Anonymous][quote=Anonymous]See that another restaurant on Conn Ave is closing due to rent .. (UDC is landlord). Brings to mind so many empty storefronts in Wisconsin Ave and Conn, from Georgetown to Friendship Heights, from Dupont Circle to Chevy Chase. I've heard there's a tax loophole that allows large landlords to "wash" $ as write offs through empty holdings, when they could be earning astronomical rent from businesses they STILL come out ahead of the property sits empty. Why would the Mayor and Council not pass laws to discourage this? What gives?[/quote] This happens in Columbia Heights, too[/quote]
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