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The Effect of COVID-19 on Lease Negotiations

By Alan M. DiSciullo

Alan M. DiSciullo is the retired director of Global Real Estate for Shearman & Sterling LLP and is an adjunct professor at New York University’s Schack Master’s in Real Estate program in New York, New York.

The COVID-19 virus has sealed a place in American history as a disease along the lines of the Spanish flu of 1918 and the smallpox epidemic between 1775 and 1792, along with the annals of world history such as the bubonic plague in the Middle Ages in Europe. What is striking in this age of 21st century technology and advanced medicine is that we are still at its mercy and are adapting daily to its spread, using, in part, steps and precautions that border on primitive common sense.

The effects of the COVID-19 virus on commercial leases have been profound.

The effects of the COVID-19 virus on commercial leases have been profound.

(credit: iStockphoto)

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