Almost 90 percent of NYC bars and restaurants couldn’t pay August rent

Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by refurb on Tuesday September 22, 2020 @02:10AM (#24551428)

When a landlord goes bust nothing happens, other the financial loss for the landlord.

It's like the old saying "when you own the $10,000, that's your problem", "when you own the bank $1B, that's the banks problem".

When 1/3 of NYC commercial real estate gets foreclosed, that's not just the landlord's problem, that's everyone's problem.

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by jojobas on Tuesday September 22, 2020 @02:59AM (#24551708)

When 1/3 of NYC gets foreclosed the new tenants will swarm to rent the places at a discount and reopen the cafes and everything else as soon as they're allowed to operate.

[ Parent | on HN ]

Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by refurb on Tuesday September 22, 2020 @01:34PM (#24557444)

Simple! Just like 2008. No knock on effects at all.

[ Parent | on HN ]

Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by jojobas on Tuesday September 22, 2020 @06:57PM (#24560994)

Is NY commercial real estate a foundation for another CDS scam? You borrow money to make a bet, you face the consequences.

[ Parent | on HN ]