The COVID-19 pandemic’s immediate effect on commercial leasing in New York was obvious. Businesses, compelled by executive order to reduce in-person operations or even to cease operation altogether (see, e.g., NYS Exec. Orders 202.3, 202.6, and 202.8), looked for relief from their rental obligations. Commercial landlords, who were subject to a state-ordered eviction moratorium but no corresponding state-ordered mortgage forbearance (see NYS Exec. Orders 202.8 and 202.9; 3 N.Y.C.R.R. § 119(f) and (k)), faced the prospect of losing the income they needed to support ongoing expenses such as mortgage payments, taxes, insurance, and maintenance costs. Landlords, tenants, and insurance companies are still negotiating and litigating over how that financial impact should be apportioned.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]