Peter Eavis and Matthew Haag, The New York Times
Published: 03 May 2021 04:07 PM BdST
Updated: 03 May 2021 04:07 PM BdST
Inessa Zelikson at her store in New York’s Grand Central Terminal, April 20, 2021.The New York Times
A big shift toward working from home is endangering hundreds of locally owned Manhattan storefronts that have been hanging on for life to return to the desolate streets of midtown and the financial district.
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The fate of these stores and, by extension, the country’s two largest business hubs will hinge in large part on how long landlords will keep offering the rent breaks that have kept many retailers afloat. Landlords themselves are under growing financial pressure as office vacancies soar and commuters and visitors stay away.