Trump Tower Seeks More Than $1 Million in Rent From Shoemaker
(Bloomberg) -- Former President Donald Trump's company sued footwear maker Marc Fisher, whose showroom occupies the 21st floor of Trump Tower in New York, for more than $1 million in rent dating back to November.
Trump Organization Inc., in a complaint filed Wednesday in state court in Manhattan, seeks a court order forcing Marc Fisher to pay almost $1.47 million under a 2015 lease for the entirety of the 21st floor and part of the 22nd floor. The monthly rent is $144,936, with a security deposit of almost $49,000, according to court documents.
Marc Fisher didn't immediately respond to an email seeking comment on the suit.
The lawsuit underscores the pressures confronting commercial real estate owners, including the Trump Organization, as the pandemic enters its second year. The retail availability rate for the upper portion of Manhattan's Fifth Avenue was 23% in the fourth quarter, according to Cushman & Wakefield.
Around the corner from Trump Tower, Tiffany & Co. isn't extending a lease for 74,000 square feet of retail space owned by the Trump Organization, people familiar said last month. Donald Trump owns a triplex apartment in the 58-story tower, which served as the backdrop for the launch of his presidential campaign in 2015.
Fisher made Ivanka Trump shoes under a license until she shut down her fashion line in 2018. It was the third-largest tenant in Trump Tower as of July 2019 after Gucci America Inc. and the Trump Org.
Read more: Trump Tower NYC to Hit 37% Space Available Over Next 12 Months
The case is Trump Tower Commercial LLC v Marc Fisher Inc., New York State Supreme Court, New York County.
©2021 Bloomberg L.P.
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