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Although he’s not participating in the race due to a knee injury, Paul Fetscher could never miss attending the 50th anniversary of the Long Island Marathon – a race he started in 1973 with friends from the New York Road Runners Club. ....
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Manhattan Borough President Gale Brewer and Helen Rosenthal (Getty, iStock) A new bill seeks to reform the lease renewal process for retailers by giving businesses the opportunity to extend their leases regardless of what their landlord says. The City Council bill, introduced by Helen Rosenthal, a Manhattan Democrat, would mandate that for leases greater than one year, landlords notify tenants whether or not they intend to renew 120 days before it expires. If the landlord declines to renew, tenants will have the one-time option to extend the lease by up to one year with a rent increase of no more than 10 percent, as long as they have not previously breached the lease. This applies even if the landlord already has a new tenant lined up, although the current tenant may stay for only 90 days instead of the full year. ....
(iStock/Illustration by Kevin Rebong for The Real Deal) In an effort to survive the financial fallout of the coronavirus pandemic, thousands of New York City restaurateurs entered into a perilous agreement with their landlords: deferring rent in the hopes that they’d be able to pay when their fortunes improved. Thirty-seven percent of restaurants have deferred their rent due to the coronavirus pandemic, according to a recent report by the New York City Hospitality Alliance. But that pales in comparison to the number of restaurateurs who could not pay part or all of their rent: 92 percent in December, a figure that has risen steadily since the first Covid-19 lockdown was imposed last spring. ....