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With Federal Help On The Way, Commercial Rent Relief Is Real Estate’s Next Big Focus

Check out BisNow’s Podcast, “Make Yourself at Home,” which examines the effects of the American Rescue Plan, a $1.9 trillion stimulus package signed into law last week, on New York City commercial real estate.

New Yorkers are hoping the funds will go a long way to easing the city’s woes and those of the real estate community. The Real Estate Board of New York Director of Legislative Affairs Ryan Monell said the organization is now focused on making sure the money gets to people who need it the most — and fast. With more than $23B coming to New York for aid, Monell believes it is now time to establish a framework for commercial rent relief in the city.

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Photo by Jonathan Velasquez on Unsplash

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