Hospitality Industry to Lead the Way Post-Pandemic
The industry is heating up folks. Lots of people are raising money for new ventures, leases for new spaces are flying in and the hospitality world is buzzing with action fueled by rampant optimism. And why not? Rents have come down considerably, there are good spaces on the market, Landy has been temporarily tamed and everyone is sitting at the same, level table and making good, fair, solid deals. Snowdrops are blooming in Strawberry Field, people are vaccinating and more money is on the way. I can’t remember a time when deal terms for hospitality operators have been so favorable.
With the deal volume that we are seeing, it has become clear to us that the NYC hospitality industry will come back fairly quickly and very strong and that, despite how we have been mistreated by our Dearly Elected, we will lead the way to NYC’s overall recovery. This is not a guess or wishful thinking. We are seeing it with our very own eyes in black and white on our desks and it’s real and it’s happening now and thank goodness.
Here’s another New Yorker, Mr. Levey.
JOEY REGS SAYS……
So far so good with 25% capacity indoor dining right? Things have really felt better over the last few weeks with indoor dining back in the fold. And the next step in the right direction begins tomorrow, as we move to a 35% capacity indoor dining allowance. If this goes well, we’ll be at 50% before you know it!
In-person and Catered Events (at a meaningful scale) will begin again starting on March 15th. There’s a lot to cover here, so while I will pull out some of the key particulars below, I’m also attaching the full text of the Governor’s guidance HERE, for reference. If you’re going to participate, please read all of the attached and be careful.
- Effective date: March 15, 2021;
- No events between Midnight and 5:00 AM, any day;
- Operators MUST ensure that they are appropriately staffed up for any event – in the form of employees or outsourced [licensed] security. You are expected to have more security/staff than you did pre-COVID, with the expectation that you will need more personnel to enforce all of the additional rules and guidelines;
- Capacity limited to the LESSER of 150 persons or 50% of your certificate of occupancy NOT including staff;
- Proper advance notification must be given to local Health Department in advance of events
Stay vigilant and stay safe. Keep kicking ass out there, and we’ll continue down this road back, together.
MAJOR EXPIRATION DATE:
Important Date Alert! March 31, 2021 marks a significant deadline for those looking to be protected under Local Law 1932-A, the law that makes guarantees of certain commercial leases unenforceable for defaults occurring from March 7, 2020 to March 31, 2021. Whether you are looking to leverage 1932-A in your negotiations for a lease amendment and COVID-related abatements or you are looking to vacate, there may be significant implications for failing to do so by the March 31, 2021 deadline. If you need assistance or advice, please contact Maya Petrocelli (firstname.lastname@example.org), the Chair of the Litigation Group, to discuss this further.
Here’s a handbook from our friends at DOH: What To Expect When Your Inspected
HL client CookUnity has an interesting opportunity for chefs:
CookUnity is the first online platform for independent chefs. Restaurants have Seamless and now chefs have CookUnity! We are currently seeking Chefs to join our platform. As one of our Chefs you gain exposure to over 10,000 foodies throughout our various social media outlets. As a member of our community we provide the necessary infrastructure allowing you the ability to build or expand your food brand.
How it works:
Chefs are provided with a fully equipped professionally licensed kitchen with access to the best vendors and all their products. We provide the food, support staff (receiving, ware washing, cleaning, food safety), and the logistics which allows delivery of your meals to customers. Chefs are paid by commission based on the sales of their meals. The most successful chefs are currently earning over $12,000 per week on the platform.
Take a look at our website here: www.cookunity.com and email to: email@example.com
HL WEBBIE VIDEO IS UP
Our webinar: Mopping Up and Moving On is up and available for viewing. We talked about PPP, ERC, and Stimulus Money with Greg Scotto. Health and Safety and inspections with Beth Torin, Leases and Landy with Maya Petrocelli and Mayan Bouskila and the current real estate market with Cosmo Montemurro. Tune in here: https://helbraunlevey.com/mopping-up-forward/
There’s a snowy owl that has been residing in Central Park for the past month. She’s white with brown and black markings and piercing eyes and she’s exquisite. During the day, she perches and poses and she’s cool. At night, she hunts rats in the fields. She swoops down and kills them with her talons and then swallows them whole. NYC will do that to you.