Revitalization and Return to Office: Goals of M-CORE and ICAP
July 12, 2023 – Episode 35
Herrick Does That
The New York City Economic Development Corporation and New York City Industrial Development Agency recently announced the launch of the Manhattan Commercial Revitalization Program, or "M-CORE", which seeks to lower commercial tenant vacancy rates by offering building owners discretionary tax incentives to upgrade aging office spaces in Manhattan below 59th Street. Herrick Real Estate partners Brett Gottlieb and Patrick O’Sullivan discuss the aim of the program, the August 1st first submission date and the possible alternative that the Industrial and Commercial Abatement Program, or "ICAP", offers to building owners.
Click here to read more on M-CORE and ICAP from the Herrick team.