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Commercial
New York

Icon Parking sued for rent at Midtown headquarters

Company faces more than a dozen similar complaints

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.

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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.

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CoronavirusReal Estate Lawsuits