When the Lower East Side noshery Kossar’s Bagels & Bialys wanted to open a second location in Hudson Yards, it wasn’t going to do it without pandemic-proofing its lease in case disaster struck again.
The bagel shop made a deal with landlord Douglaston Development to base its rent payments on the pandemic restrictions. If the city limited occupancy for stores and restaurants, their rent would decrease with the occupancy limitation, according to Lee & Associates’ Peter Braus, who brokered the deal.
Kossar’s also got the landlord to agree to extend the amount of time the shop would have to build out its space without charging rent in case the
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