“Overall, there is a diversity of real estate sectors in Westchester, so it’s hard to address [the effects of coronavirus] in generalities,” says Michael Romita, president of the Westchester County Association. “The pandemic influenced various sectors in different ways. Clearly, there was a softening in activity in commercial office space, but I wouldn’t say [the impact has been] terrible.” During the early months of the pandemic, he notes, there was not an exodus of office leaseholders; rather, landlords and tenants in general were discussing work-arounds. “Rents were coming in; landlords were getting paid, though some were getting strung out a little bit,” Romita says.
Nov 12, 2020
SOURCE: Westchester Magazine