Columbia offers small businesses free rent for April and May

University hopes move will help tenants through coronavirus pandemic

New York /
Mar.March 20, 2020 04:45 PM
Columbia University

Columbia University (Credit: Columbia University)

Columbia University is giving its Upper Manhattan business tenants two months of free rent.

Small businesses in the school’s retail portfolio will not have to pay rent for April and May to help them endure the coronavirus pandemic, the school announced Friday. The move applies to qualifying small businesses in Columbia’s 600,000 square feet of retail space across Morningside Heights, Harlem and Washington Heights.

“This is the hardest of times for everyone, and noticeably for our retail partners,” Columbia’s executive vice president for facilities and operations David Greenberg said in a statement, “and we will do everything we can to help them get through this crisis.”

The university highlighted that many of its food and beverage tenants are still open for takeout and delivery services, including the cafe Wu + Nussbaum and Tom’s Restaurant of “Seinfeld” fame.

Mayor Bill de Blasio cheered the idea of a rent moratorium Friday during his weekly appearance on WNYC with Brian Lehrer, although he acknowledged that he needed to figure out if the city has authority to enact one or if the state would have to do it.

Gov. Andrew Cuomo did not mention a rent moratorium in a press conference he held Friday, although he did announce a 90-day moratorium on residential and commercial evictions. A state administrative judge had halted evictions earlier in the week.

A decade ago, Columbia received criticism for its efforts to use eminent domain to expand its campus. But Friday, the university’s tweet of its rent break drew 59 likes and was retweeted 16 times in its first hour.


Related Articles

arrow_forward_ios
US office investment market remains well below 2019 levels
US office investment market remains well below 2019 levels
US office investment market remains well below 2019 levels
The big inflation hedge that wasn’t
The big inflation hedge that wasn’t
The big inflation hedge that wasn’t
Microsoft CEO Satya Nadella and American Express CEO Stephen Squeri (Getty, American Express)
Microsoft, AmEx push back office returns
Microsoft, AmEx push back office returns
(iStock)
Fewer than 1 in 4 Long Islanders behind on rent has applied for relief
Fewer than 1 in 4 Long Islanders behind on rent has applied for relief
More and more homebuyers and investors are coming to the negotiating table with cash in hand. (iStock)
Cash buyers snatch a third of US home sales
Cash buyers snatch a third of US home sales
Boston Properties CEO Owen Thomas (iStock)
“Delta is affecting the when”: Covid variant complicates NYC’s recovery
“Delta is affecting the when”: Covid variant complicates NYC’s recovery
President Joe Biden and Justice Brett Kavanaugh (Getty, iStock)
Eviction ban heads back to Supreme Court
Eviction ban heads back to Supreme Court
(Getty)
DIYers are no longer racing for hammer and nail
DIYers are no longer racing for hammer and nail
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...