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Empty Condo Buildings Don't Pay Taxes, Report Says

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We've already delved into the sadness that is those newish luxury condo buildings now sitting empty because they couldn't quite avoid the market bust. And apparently it's hard to concentrate on paying the bills when you're an unhappy, lonely ghost tower. According to a report being released this afternoon by Right to the City-NYC, a coalition of community groups, there are 138 new condo buildings that owe the city a total of $3.8 million in back taxes. All together, these buildings include 4,092 empty housing units and haven't paid property, water, or sewer taxes for more than a year. The Right to the City folks want the city to take the buildings back through tax foreclosure or eminent domain and turn them into affordable housing.

How would this shake out on a 'hood-by-'hood basis? The report looked at neighborhoods with significant low-income populations, and the Lower East Side has the largest number of delinquent buildings, with 1,187 empty units owing $1,978,304 in back taxes. In second place is DoBro, with 829 empty units and $1,015,677 owed in taxes. It's not the first time the empty condos-to-affordable housing suggestion's been floated, but will the tax data give it any more momentum?
· Low-Income NY'ers & Elected Officials Call on City to Convert Condos in Low-Income Areas into Affordable House [RTTC-NYC]