You are reading

80 Percent of Restaurants & Bars Were Unable to Pay Their Full Rent in July: Survey

(Photo: Stock Unsplash)

Aug. 3, 2020 By Christian Murray

Four in five bars and restaurants in New York City were unable to pay their full rent in July, according to a new study.

The NYC Hospitality Alliance released results from a survey today that found that only 17 percent of establishments were able to pay their full rent for July. The survey was based on the responses from 471 NYC restaurants, bars, nightclubs and event venues between July 15 and 28.

The survey revealed that 37.4 percent didn’t pay any rent in July. Meanwhile, 36.6 percent said they paid some, with the remainder uncertain whether they would be able to pay.

The results are not pretty, restaurant advocates say, and come despite the mayor’s attempts to help businesses survive–given the ban on indoor dining and various social distancing restrictions that are in place.

The mayor has expanded outdoor dining and provided businesses with the ability to sell to-go drinks.

De Blasio praised his outdoor dining program on Monday and said it has helped keep many businesses afloat, bringing nearly 80,000 workers back to their jobs.

But the NYC Hospitality Alliance said that the mayor’s programs were not enough to offset the revenue lost by the restriction on indoor dining and various other requirements.

Furthermore, federal programs such as the Paycheck Protection Program may have helped many businesses but much of that money has now been spent.

“Restaurants and nightlife venues are essential to the economic and social fabric of our city, but they are struggling to survive,” said Andrew Rigie, executive director of the NYC Hospitality Alliance.

The survey revealed that about 10 percent were able to negotiate their lease, while about 28 percent were in “good faith negotiations.” Approximately 62 percent of respondents said they had not renegotiated it.

There are signs that some landlords are working with some businesses.

The survey found that nearly 30 percent of landlords had waived some rent due to the pandemic. Of those landlords, 74 percent had waived half the rent or more.

The rent has forced many businesses to close—unable to keep up with high fixed costs. Currently there is a moratorium on evictions for commercial tenants, which is set to expire Aug. 5.

For a copy of the survey, click here.

email the author: [email protected]
No comments yet

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

Long Island woman sentenced to more than two decades in prison for 2021 hit-and-run that killed NYPD cop: DA

A Long Island woman was sentenced to more than 20 years in prison for speeding through an NYPD roadblock while drunk and killing a highway patrolman in a 2021 hit-and-run collision on the Long Island Expressway in Fresh Meadows.

Jessica Beauvais, 35, of Myrtle Avenue in Hempstead, was convicted in October of aggravated manslaughter and other crimes following a 13-day trial in Queens Supreme Court. Beauvais had a blood alcohol level of twice the legal limit two hours after plowing into Detective Anastasios Tsakos while he was diverting traffic around another fatal collision, and then speeding away from the scene of the collision.

Crunching the Queens crime numbers: felony assaults across the borough on the rise, burglaries down slightly in northern Queens

Feb. 21, 2024 By Ethan Marshall

The number of felony assaults across Queens increased during the 28-day period from Jan. 22 through Feb. 18, compared to the same period of time last year, according to the latest crime stats released by the NYPD Tuesday. At the same time, the number of reported burglaries experienced a slight but noticeable drop in northern Queens.

Queens father, son charged with possessing cache of loaded ghost gun assault weapons in Fresh Meadows home: DA

A Fresh Meadows father and son are criminally charged with possessing an arsenal of loaded ghost gun assault weapons that were found after a court-authorized search was executed at their home on Wednesday.

Hyung-Suk Woo, 26, and his father, Jin-In Woo, 55, of 198th Street, were arraigned late Wednesday night on a 130-count indictment charging them with 97 counts of criminal possession of a weapon and a slew of other charges after the raid uncovered the assault weapons, as well as silencers made with a 3-D printer and other weapons-related paraphernalia, Queens District Attorney Melinda Katz announced Thursday.