Re:Almost 90 percent of NYC bars and restaurants couldn’t pa...
by TomVDB on Tuesday September 22, 2020 @01:17AM
(#24551100)
> Would the landlord prefer a smaller amount to none at all?
As was explained a week or so ago by somebody in that business on Reddit: for commercial real estate, many landlords would prefer none at all over a smaller amount, because the loan is written with the assumption of a certain rent per unit, and if the average rent goes down, it breaches the loan conditions and the loan is revoked (or something like that.)
As was explained a week or so ago by somebody in that business on Reddit: for commercial real estate, many landlords would prefer none at all over a smaller amount, because the loan is written with the assumption of a certain rent per unit, and if the average rent goes down, it breaches the loan conditions and the loan is revoked (or something like that.)