Sign of the times: Why vacant storefronts continue to plague NYC

The number of vacant storefronts in NYC is growing, and the City Council demanded solutions to the economic problem during an oversight hearing at City Hall on Wednesday. 

NYC Council Member Oswald Feliz, (D-Bronx) chair of the council’s Committee on Small Business, led the economy-focused hearing, explaining to members of the city’s Small Business Service (SBS) that business owners are being forced to shut down or not open at all due to high rents, chain-store competition and retail theft.