The management agreements, which were set to expire in 2035, cover a hotel portfolio that spans across 31 states.
It’s the latest sign of how the pandemic and the related decline in office workers and tourists has hobbled city businesses.
Last month, 10.6 percent of the city’s apartment tenants missed a rent payment, more than double the rate of a year earlier.
The pandemic could permanently close as many as a third of New York’s 230,000 businesses, according to the Partnership for New York City.
Outlet centers have not been spared the pandemic’s toll. But their open-air locations and focus on value are major advantages.
Landlords are growing more desperate as they struggle to fill apartments, offering months of free rent.
Silverstein Properties, JLL and KBS share what they’ve been doing to make tenants feel safe to return.
On Wednesday, panelist discussions centered on the best ways for retailers and landlords to integrate e-commerce into their operations.
