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The ongoing economic contraction caused by the 2019 novel coronavirus has been swift and dramatic. In a matter of months, unemployment has reached Great Depression levels, bankruptcies have spiked, and the U.S. government has scrambled to avoid economic fallout. The pressing question is how, and to what extent, COVID-19 will affect commercial real estate. While it is likely that the long-term impact of COVID-19 will be significant, the short-term effect may be to accelerate sector and geographic trends that were already prevalent before the pandemic emerged.
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By Lucas Ferrara
On Oct. 29, 2020, a Manhattan real-estate firm filed four separate class-action lawsuits highlighting three different maneuvers landlords used to evade the requirements of a tax-abatement program.
By Fredric P. Lavinthal and Eric M. Finkelstein
This article seeks to examine key current issues, and offers practical advice to landlords and tenants seeking common ground to address the ongoing financial toll of the pandemic.
By Frank Burke
This article examines how shutdown actions might be approached and resolved by settlement by applying a series of contract performance doctrines that inevitably arise during these types of situations.
By Erika Morphy
A national-led effort to push back against the virus will hopefully drive down infections enough until a vaccine becomes available. This can only help commercial real estate as it is clear that the economy will not fully recover until the coronavirus is vanquished.