EFFECTS OF COVID ON NEW YORK CITY & THE TRI-STATE ECONOMY

Walking around New York these days, one may notice that while some parts of the city appear to be bouncing back - perhaps even thriving – others are not doing so great. In fact, 80 percent of bars and restaurants say they could not pay their full rent in July. And according to a recent report, roughly one-third of the city’s small businesses may never reopen even after the pandemic subsides.