Extell, a luxury developer, is suing Philippe Chow for allegedly overstaying its lease at 33 East 60th Street, seeking nearly $1 million in penalties. The developer has plans to demolish the property—which it purchased for $103 million— for a new 37-story apartment building. The lawsuit claims Chow owes unpaid rent of roughly $390,000 and additional penalties amounting to four times the monthly rent until the restaurant vacates. Despite the lease expiration, Merchant Hospitality, the owner, disputes the claims, indicating an ongoing legal dispute regarding closure timelines.
The suit demands $977,000 in penalties from Philippe Chow for allegedly not vacating the location when their lease ended, with unpaid rent of about $390,000.
Merchant claimed that the information in the suit was inaccurate, indicating a potential legal battle regarding the restaurant's lease status and Extell's financial demands.
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