BFKP Can Help Re-Work Your Commercial Lease During Covid-19

In the wake of the COVID-19 pandemic, is it impossible for your business to pay its commercial rent?

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Because of COVID-19, sophisticated New York businesses of all sizes are actively renegotiating or terminating their commercial leases, from giant retailers such as Victoria’s Secret and The Gap to your local flower shops and cafés. It is imperative to be proactive, not reactive. These unprecedented times require lawyers to think outside the box, to break from the mold, and to come up with unique and creative solutions that fit the client’s needs.

How we are helping our commercial leasing clients:

Analyze the Lease 

• Focus on critical contract provisions in your lease agreement for negotiating with the landlord. 
• Identify legal defenses to payment of rent applicable to your circumstances.
• Apply recently enacted federal, state and local laws, including all executive orders to your lease situation.

Develop a Strategy 

• Identify the needs of your business for the immediate and long-term future.
• Work with you to develop a plan centered around reaching the best possible resolution for your business.
• Discuss the various possible solutions including deferments, abatements, renegotiation and early termination.

Engage with Landlord 

• Depending on the approved plan, engagement may include phone calls, emails, and/or letters; or
• The situation may dictate heading directly to court.

During this turbulent time, we will work with you to plot out a course of action that will minimize your business’ liability under the commercial lease while also charting a path forward to keep your business viable in the months and years to come.

For a free consultation, please fill out the short form below and dial (212)-803-9025 to connect with an attorney.

For additional related content, please watch our educational videos here.

We look forward to helping.