Vast Majority of NYC Restaurants, Bars Did Not Pay Rent in August
A survey found that 87% could not pay full rent for the month, and 34% were unable to pay any rent at all.
NEW YORK CITY—Nearly nine in 10 restaurants, bars and nightlife venues in New York city could not pay full rent in August, according to a survey by the NYC Hospitality Alliance.
The survey of more than 450 restaurants, bars, and nightlife establishments found that 87% of businesses could not pay full rent in August, and 34% were unable to pay any rent at all. The number of restaurant’s unable to pay rent has continued to rise this summer even as the city’s infection rate has remained low, increasing from 83% in July and 80% in June.
These numbers could shift when indoor dining is expected to resume at 25% occupancy on Sept. 30.
According to the survey, 60% of landlords still have not waived rent during the Covid-19 pandemic, and of landlords that did waive rent, less than one-third waived more than 50%. The survey also found that 90% of respondents could not renegotiate their lease as a result of Covid-19.
These businesses have been financially devastated by the pandemic, said Andrew Rigie, executive director of the NYC Hospitality Alliance in prepared remarks. “The hospitality industry is essential to New York’s economic and social fabric, and to ensure the survival of these vital small businesses and jobs, we urgently need rent relief, an indefinite extension of outdoor dining, a roadmap for expanded indoor dining, covered business interruption insurance and immediate passage of the Restaurants Act by Congress.”