Cleary Gottlieb Supports NYC Small Businesses With Commercial Real Estate Advice
May 22, 2020
In partnership with Start Small Think Big, Cleary Gottlieb’s real estate team has been providing pro bono support to NYC-based small businesses with commercial leasing issues arising as a result of COVID-19.
The work has focused on providing individual legal consultations to entrepreneurs whose businesses remain closed due to the crisis and whose revenues have decreased dramatically. With sales at a standstill, these small businesses are increasingly concerned about how they will pay their monthly rent and ensure the survival of their businesses, while trying to protect their personal assets in many cases.
In addition to individual consultations, Cleary’s real estate team is also developing accessible guidance for commercial renters to help them:
- Determine their rights and obligations under a commercial lease, including a checklist on key provisions for review.
- Understand the consequences of non-payment of rent and landlords’ available remedies.
- Strategize about how to approach discussions with landlords focused on lease modification.
- Learn more about state and city legislative relief efforts.