A famed downtown bar is the topic of a newly filed lawsuit with fees of six figures in again lease.
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One in all New York Metropolis’s oldest watering holes is in sizzling water.
The West Village’s White Horse Tavern, which proudly claims to be “the second oldest pub in New York Metropolis,” is allegedly experiencing an issue as outdated because the Large Apple: Being late on lease — and plenty of it.
Proprietor Eytan Sugarman allegedly owes greater than $650,000 in unpaid lease for the 567 Hudson St. venue, landlord Steve Croman claims in a lawsuit filed Thursday in Manhattan Supreme Courtroom.
The debt traces again to the onset of the COVID-19 pandemic, when Sugarman started inconsistently paying the $41,500 he owes a month for the 142-year-old nook location (which is completely separate from the 89-year-old White Horse Tavern situated within the Monetary District), Crain’s reported. The state of affairs has come about regardless of Sugarman accumulating $437,840 in federal Paycheck Safety Program funds in the summertime of 2020 — cash supposed for the safety of 18 jobs on the institution, which has both been forgiven or paid again, the publication reported.
Croman was at one level extra supportive of the saloon’s continued existence, granting Sugarman a month-to-month concession for half his lease for 18 months, the Actual Deal reported. In August, that modified, and Croman demanded Sugarman repay the 18 months of concessions.
The go well with additionally calls for Sugarman pay a minimal of $15,000 in authorized charges — along with the lease debt. Nonetheless, the Actual Deal notes, citing courtroom paperwork, that Sugarman had points paying lease within the early months of his tenancy; he signed a 15-year lease in March 2019. That April, Sugarman closed the bar for a month for renovations, which reportedly value $1 million — and late funds allegedly started that August. By the New York arrival of COVID, there have been allegedly already $11,500 in charges.
White Horse Tavern didn't instantly return The Publish’s request for remark.
The go well with represents a turning of the tables for Croman, who spent eight months in jail for crimes involving mortgage and tax fraud in 2017, and in addition beforehand settled for $8 million after a federal civil go well with discovered him responsible for harassing rent-regulated tenants, Crain’s reported.
Croman bought the White Horse for $13.7 million in April 2019, not lengthy after getting out of jail. The mixed-use property additionally has two residential flats.
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