City slaps Forest City with lawsuit over Times Square ground lease

The city has filed suit against developer Forest City Ratner over the terms of a ground lease for an entertainment complex the developer operates on West 42nd Street. Forest City and the city are at loggerheads over whether or not, in determining the terms of the lease, the rents being paid by sublease tenants in the space should be taken into account. Forest City says they should, while the city claims the value should be […]

Source: Real Estate

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