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New Rent Study Paints A Bleak Picture for NYC Restaurants and Bars

Of the respondents who replied that they were able to pay some of their rent, 53% said they were able to pay half, while 29.8% expected to pay less than half.

When New York City entered Phase 2 of reopening on June 22, restaurants were permitted to offer outdoor dining to customers. Indoor dining was expected to begin on July 6, when the city would join the rest of the state in Phase 3. However, on July 1, Mayor Bill de Blasio announced indoor dining would be put on hold indefinitely, citing states like Florida and Texas that had seen COVID-19 cases rise dramatically after allowing restaurants to begin indoor dining.

A new study shows just how devastating these recent developments have been for the hospitality industry.

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Richard Binder

Richard Binder

Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.

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