McKool Smith principal Courtney Statfeld provided commentary in a MarketWatch article, titled “COVID-19 has commercial real estate tied in knots, as lockdowns ease in New York City and other major cities.” The article summarized the current situation of New York City real estates as the businesses begin to resume in Phase 2 of reopening. Cortney said, “It’s virtually impossible to underwrite a loan where you have no idea of what the future occupancy rates will be and what net-operating income is going to look like. We work with a number of distressed debt funds, and they definitely have an appetite, but are holding tight and watching.” Read the full article here.
