The COVID-19 pandemic’s immediate effect on commercial leasing in New York was obvious. Businesses, compelled by executive order to reduce in-person operations or even to cease operation altogether (see, e.g., NYS Exec. Orders 202.3, 202.6, and 202.8), looked for relief from their rental obligations. Commercial landlords, who were subject to a state-ordered eviction moratorium but no corresponding state-ordered mortgage forbearance (see NYS Exec. Orders 202.8 and 202.9; 3 N.Y.C.R.R. § 119(f) and (k)), faced the prospect of losing the income they needed to support ongoing expenses such as mortgage payments, taxes, insurance, and maintenance costs. Landlords, tenants, and insurance companies are still negotiating and litigating over how that financial impact should be apportioned.