The COVID-19 pandemic has thrust the world into a monumental public health crisis. In the U.S., New York is an epicenter of COVID-19 infections, which are growing exponentially and likely will continue to surge for weeks. Local and state governments will maintain tight restrictions on mobility, including prohibiting workplace access for most of the region’s workforce. These measures, while necessary to protect public well-being, have significant negative economic consequences that will impact the real estate market.