You often receive tax breaks when you own a landmark property to compensate for the increased difficulty and higher standard of maintenance, as well as the fact

You often receive tax breaks when you own a landmark property to compensate for the increased difficulty and higher standard of maintenance, as well as the fact that you're effectively providing a public service. Many historic towns have an equivalent status. Why do you say it's a cash grab for the city? I could be wrong, but I don't believe the city receives any revenue for this. Also, I wouldn't really describe NoHo as a hipster area. It's basically a commercial zone,albeit sandwiched in between two areas that might be considered hipster (East Village and Greenwich Village).