Real Estate
Home›Real Estate›Residential›STK Union Square lease fight hinges on $109K rent noti…
STK Union Square lease fight hinges on $109K rent notice
The tenant says it cannot access the space due to debris left by the landlord or a prior user, while the landlord seeks to terminate the lease after a Sept. 23 deadline.
Bisnow reports that the opening of an STK steakhouse outpost at Union Square is in doubt following a dispute over a $109,375 rent payment tied to the restaurant’s 10-year lease at 200 Park Ave. S.
The One Group, which signed the lease in January 2025 for a 13,000-square-foot corner unit, says it does not yet owe rent because the interior is filled with “hundreds of pounds” of debris, tools, and construction materials left by the landlord or another tenant. The One Group chief accounting officer Christi Hing said in a sworn affidavit that “nothing can be done with the space” until the material is removed.
The landlord, ABS Partners Real Estate’s affiliate, issued a notice on Sept. 11 that The One Group owed September rent plus a late fee and that the lease could be terminated if payment was not made by Sept. 23. The tenant’s attorneys sought an injunction and temporary restraining order to block termination.
ABS pushed back, arguing the tenant does not qualify for an emergency Yellowstone injunction, and alleged the filings were delayed due to the Jewish high holidays. The landlord agreed to extend the payment deadline by one day after agreeing to certain requested timing, according to emails submitted in court.