The Real Deal New York

Luxury-box owners suing Barclays Center

The group claims that they were misled by arena officials

October 05, 2014 12:00PM

Barclays Center and a luxury suite

Barclays Center and a luxury suite

 

A group of Barclays Center luxury-box owners is suing the Brooklyn arena, again. This is the second times in less than a year the group has sued, claiming that they were promised a great investment, but that values quickly deflated.

 

Ludwig’s Drug Store in Prospect Heights purchased rights to the box last October for nearly $1 million for three years after being told by arena officials that it could potentially rake in $600,000 a year. According to the New York Post, the group only took in $104,417 last year.

 

“We take great exception to the assertion that Ludwig’s would have licensed a suite for the purpose of reselling suite tickets . . . when this . . . is completely contrary to the terms of the suite license,” Barclays Center spokesperson Barry Baum said. [NYP]Christopher Cameron

  • b-man

    they’re moaning about 10% returns?

    • Jake

      please go back to math class. That is not a 10% return.

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