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Thor clips The Wing for overdue rent
Women-focused co-working space is one of many commercial tenants behind on payments
Thor Equities is suing The Wing for late rent at its Bryant Park office.
Joe Sitt’s firm is seeking $270,000 in rent and other charges, which the women-focused co-working company has allegedly failed to pay since March, Commercial Observer reported.
The Wing, once owned by WeWork, secured its fourth location last year, signing a 10-year lease last year for 12,000 square feet on the 11th floor of Thor’s 25 West 39th Street.
The complaint marks another setback for The Wing, which has been hit hard by the pandemic as well as internal strife that forced CEO Audrey Gelman to resign.
The company said its revenue dropped 95 percent since the onset of the pandemic. As a result, it said it laid off almost all employees responsible for upkeep of its spaces, as well as more than half of its headquarters staff.
After an “Office of the CEO” was established to replace Gelman, 41 current and former employees asked for her to leave the company’s board and for co-founder Lauren Kassan to resign as COO.
Many landlords have filed suits against commercial tenants who have not paid rent since the onset of the pandemic. While the city has sought to protect tenants who have been unable to pay rent, landlords have challenged the city’s protections. [CO] — Orion Jones