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Intro 0090-2026 was heard by the Council's Small Business Committee on September 16, 2026. It would give qualifying storefront tenants a 1-time, 1-year extension right and cap monthly rent increases on that extension.

Landlords pushed back at the hearing. REBNY, the Real Estate Board of New York, filed written testimony that mandatory extensions create market uncertainty and could push owners to avoid newer or riskier small tenants. The Manhattan Chamber of Commerce, which also testified, said 35 to 40 percent of owners carry mortgages with covenants that require a minimum rent, so a capped increase can jam a refinancing. You can hear both sides in 1 breath: tenant groups call it protection from displacement, while owners call it a lease term they no longer control.

Keep in mind: the bill is proposed, not yet law.

On September 1, 2026, Acadia Realty Trust closed on 69 Greene Street and 71-73 Greene Street, 2 connected 5-story mixed-use buildings. Acadia paid $60 million combined: $29.4 million for 69 Greene and $30.6 million for 71-73 Greene. That is roughly $1,800 per square foot across about 32,900 square feet. City records show the deal closed September 1. Acadia is a retail REIT that already owns Greene Street storefronts, so this purchase deepens an existing position. The seller was JSRE Acquisitions, a New York investment firm.

While that deed was recording, Manhattan's largest office landlord made its move on Greene Street. On September 9, SL Green announced that it is in contract to sell 110 Greene Street, a 13-story, 223,000-square-foot office-and-retail building, to Natora Group for $226 million. That prices the building at just over $1,000 per square foot, with closing expected in the 4th quarter of 2026. This deal is in contract, not yet closed.

For 2 and a half years the space sat as a signed-but-quiet project. On September 16, the landlord filed the interior fit-out work with the city's Department of Buildings (Job M01266197).

Ferrari has not announced an opening date, and no completion date is public.

This is the company's 2nd Lower East Side purchase in weeks. It also paid $9.8 million for the 9-unit walk-up at 168 Suffolk Street, closed September 3. 2 buildings, about $26 million combined, both closed within about a week of each other.