Author Topic: $300 grand down the toilet. what a shame.  (Read 607 times)

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Offline Ant68

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Re: $300 grand down the toilet. what a shame.
« on: June 24, 2011, 08:16:11 PM »
What an unfortunate situation, the place looks amazing.

But I find this hard to fathom:

In return for renovating its premises and opening the interactive museum, Silverman got a two-year rent-free deal.  However, one clause in the lease allowed the mall's owners, Vornado Realty Trust, the option to terminate the agreement with 60 days notice.

Some rent-free deal - you spend your dough and you get an imaginary two year deal because the whole thing can be terminated on 2 months notice - why would you accept such a term? Extraordinary.

I saw this place on one of those US morning programs when it was just about to open a while back  , what a pity. On the other hand who would spend that much money on a very loose lease . !@#