Icon Parking sued for rent at Midtown headquarters

Company faces more than a dozen similar complaints

TRD New York /
Sep.September 09, 2020 04:35 PM
270 Madison Avenue (Google Maps)

270 Madison Avenue (Google Maps)

Icon Parking and its affiliates, which have repeatedly been sued over allegedly failing to pay rent at various locations, is now in hot water at its Midtown East headquarters.

Landlord ABS Partners is suing the parking garage operator, claiming it owes more than $7 million in rent and other fees at 270 Madison Avenue, where Icon occupies the second floor of the 269,000-square-foot building.

Icon hasn’t paid rent since April, and ABS terminated its lease at the end of August, the lawsuit states. The company owes $5,706 each day that it remains in the office without a lease in place, according to the complaint.

Representatives for Icon’s owner, private equity firm HPS Investment Partners, declined to comment.

The parking garage operator, which bills itself as Manhattan’s largest, with more than 200 locations, is already facing more than a dozen lawsuits over outstanding rent. Landlords including Brookfield Properties, SL Green Realty and the Red Apple Group allege that Icon owes north of $7.5 million.

Manhattan garages have seen revenue crash during the pandemic as huge numbers of employees began to work from home and restaurants, hotels and theaters closed.






Related Articles

arrow_forward_ios
(iStock)

Movie theaters might not come back after all

Movie theaters might not come back after all
Judge Janet DiFiore and Tax Equity Now’s policy director Martha Stark Credit: NY Courts and NYU Wagner)

State’s highest court dismisses property tax reform appeal

State’s highest court dismisses property tax reform appeal
Sharif El-Gamal, Joseph Chetrit and 1384 Broadway (Getty; Google Maps)

Chetrit Group sues Sharif El-Gamal for unpaid rent

Chetrit Group sues Sharif El-Gamal for unpaid rent
(iStock)

Landlords lost about $9B in rental payments last quarter: report

Landlords lost about $9B in rental payments last quarter: report
State Sen. Julia Salazar, Barbara Corcoran and Gov. Andrew Cuomo (Getty)

State says Barbara Corcoran is on board with broker-fee ban

State says Barbara Corcoran is on board with broker-fee ban
Charles Kushner and 329-335 East 9th Street (Google Maps, iStock)

Kushner Cos hit with class-action suit over illegal rent collection

Kushner Cos hit with class-action suit over illegal rent collection
Jamie Dimon and 383 Madison Avenue (Getty, Google Maps)

JPMorgan suffers setback in return to office

JPMorgan suffers setback in return to office
Lennar's Stuart Miller, Rick Beckwitt and Jon Jaffe (Lennar; iStock)

Lennar reports untempered demand for new homes in Q3

Lennar reports untempered demand for new homes in Q3
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...