Commentary

New York City Mayor Bill de Blasio delivered another striking blow to property owners when he signed into law N.Y.C. Council Int. No. 1932-A (2020) on May 26, 2020. The new legislation prohibits landlords from enforcing personal guaranties on certain commercial leases for defaults occurring between March 7, 2020 and Sept. 30, 2020.

There are approximately 453 single-tenant bank-occupied properties on the market for sale in the US.

The retail industry will emerge in a post-COVID world with smaller stores, healthier balance sheets, and improved sales driven by pent-up customer demand.

Most major downtowns are Deadsville—few office workers, closed restaurants and entertainment venues, no tourists, and little street life.

We are making peace—even if it is an uneasy peace—with the so-called new normal of a post-COVID environment.

There are several important topics for both tenants and landlords to consider from a bankruptcy perspective while negotiating lease amendments.