Since the economic fallout of the COVID-19 pandemic first became clear, housing experts have been warning of a forthcoming eviction crisis, which could skyrocket homelessness across the country. But another kind of eviction crisis is coming, too: small business evictions, which will put even more strain on apartment renters and the cities that rely on that property tax income.
When the coronavirus pandemic recedes (whenever that is), New York’s small business landscape won’t be the same. As many as a third of the 230,000 small businesses across the five boroughs may never reopen, according to a report from Partnership for New York City, a membership of business leaders.
