90% of Restaurants Can’t Pay Rent — Save Our Storefronts (SOS)!

survey recently released by the New York City Hospitality Alliance indicates that 90% of New York City restaurants can’t pay their rent, largely due to a lack of revenue stemming from the COVID-19 pandemic. No doubt other small businesses and cultural institutions that depend upon the public gathering indoors to generate income face similar or greater struggles, especially as we head into the cold weather months. With no sign of COVID disappearing any time soon, and protecting public health being of the utmost importance, something must be done to help save small businesses in our neighborhoods and city.

That is why Village Preservation is supporting the Save Our Storefronts (SOS) campaign and legislation introduced by State Senator Brad Hoylman and Assemblymember Harvey Epstein which would provide rent relief to both small businesses/non-profits and to property owners who cannot collect full rent. More on the legislation HERE.

With small businesses shuttering in our neighborhoods every day, the time to act is now.
September 25, 2020