On March 31, 2023, the United States District Court for the Southern District of New York declared New York City’s Guaranty Bill unconstitutional, finding it violates the United States Constitution’s Contracts Clause. New York City landlords may now be able to seek previously unenforceable arrears from commercial lease guarantors owed from March 7, 2020 through June 30, 2021. See the linked decision for further details.
