Shop NYC Top

Sometimes in otherwise vibrant/bustling neighborhoods (e.g. Greenwich Village), a commercial storefront will stay empty for many years. For example, the former Duane Reade at 9th and Broadway (5+ years), or the former Pain Quotidien on 8th Street (3+ years). Every other unit around these is gainfully occupied.

Are they just waiting for a high-$, long-term tenant? If so, wouldn’t it still suit the owner to lease the space short-term at a lower rate to generate income? Or at a very minimum, rent it out as a pop up or seasonal space?

This never made sense to me, it seems like they’re forgoing tons of $$ unnecessarily.