its because they are likely tied up in CMBSs with terms that state that the value of the building is based on the value its renting units out at, and if they lo

its because they are likely tied up in CMBSs with terms that state that the value of the building is based on the value its renting units out at, and if they lower the rent they have to recollateralize the loan (pay an additional down payment, to cover the lost 'value' of the property), but they can just apply missed rent from empty units to the end of the mortgage and take a tax write off. https://www.reddit.com/r/nyc/comments/innhah/nearly_twothirds_of_new_york_restaurants_may_have/g49g4c5/?context=2 https://www.reddit.com/r/nyc/comments/innhah/nearly_twothird...