Pretzel Time Sticks It To Steve Roth
At least two former Manhattan Mall retailers have sued landlord Steve Roth's Vornado Realty Trust over their recent evictions from the mall to make way for a new 150,000-square-foot J.C. Penney department store.
Proprietors of Pretzel Time and Square One Shoes & Clothing each claim in separate lawsuits that their leases were prematurely and illegally terminated last month.
Lawyers for Square One have argued that the construction of a new J.C. Penney was "secretly planned in October 2006 -- but not publicly disclosed until months later."
The clothier's lease for 8,200 square feet inside the mall was signed just six weeks before Vornado acquired the building for $689 million, yet the prior landlord made no mention of the pending sale, according to court papers.
Pretzel Time, meanwhile, had invested nearly $300,000 in renovations required by the prior landlord and was just two years into its 10-year lease renewal when Vornado abruptly terminated its stay, court papers show.
Both retailers are seeking hundreds of thousands of dollars in damages.
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