The Real Deal New York

Theater gets rent reduction

April 28, 2009 02:54PM

Fifteen-year-old Chelsea theater Center Stage NY was about to lose its 48 West 21st Street space when owner Jill DeArmon turned to The Web site’s founder, attorney and real estate broker Michael Jackowitz, negotiates rent reduction deals for tenants. DeArmon’s rent is now $2,000 lower per month, though she will eventually have to pay back the rent discount. Jackowitz charges customers a percentage of their savings.

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