THE CITY JUST CUT 96% OF OUTDOOR DINING. YOUR TENANTS BUILT REVENUE AROUND IT.

Outdoor dining approvals in NYC went from 12,500 setups to roughly 500 this year. That's not a policy tweak. That's the city removing a revenue stream that operators spent four years building their numbers around.

A lot of these tenants don't have a Plan B. They priced their lease against a blended model. Inside and outside. Now it's just inside. Same fixed costs, fewer covers, tighter margin, same rent due on the first.

That gap doesn't call you. The missed payment does.

What the city does with permits and approvals is now a direct input into whether your tenant makes rent. That wasn't true five years ago. It is now.

Marco Shalma has spent 20 years tracking ground-floor retail behavior at street level across New York City. The Streetscape Risk Protocol identifies tenant default risk before it reaches the rent roll. We Eat Here

Sources: NYC Comptroller’s Office. BK Mag, March 2026. Street Eats Foundation x New York Eats Here Vendor Survey, N=250, NYC, 2026. Three sources. One government. One news. One proprietary. That's the credibility stack.