New York’s restaurant rent crisis is worse than ever

More than 90 percent of New York City restaurants did not pay full rent in December, a number that has “steadily increased” since June, Eater reports, citing a survey of about 400 restaurants conducted by the New York City Hospitality Alliance. It’s worth noting that the group has been advocating for a restaurant-specific bailout, so it’s not exactly an impartial third party, but the numbers are nevertheless striking: Nearly half of the restaurant respondents reported paying no rent at all in December, and of the respondents that reported paying partial rent, most paid half or less. Perhaps worst of all, 86 percent of respondents said they had been unable to renegotiate their leases during the pandemic.

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