I have had two former amp tenants. The lease is not in the owner’s name so they can just close the business and move on like it’s nothing.
This line of business is worth it for the landlords, owners and providers. Amps are never late on rent so we like them unlike other tenants such as a deli who are behind very often. And many of the landlords of these amp tenants are Korean so we all know what’s going on.
I know the owner of Gold. She’s doing very well financially. So Gold closing is not a big deal to her.
This line of business is worth it for the landlords, owners and providers. Amps are never late on rent so we like them unlike other tenants such as a deli who are behind very often. And many of the landlords of these amp tenants are Korean so we all know what’s going on.
I know the owner of Gold. She’s doing very well financially. So Gold closing is not a big deal to her.
We had another idiot who also stopped paying rent, and wouldn't leave so got an eviction. Though could have explored legal options since he owes $20K in rent/legal fees just moved on.
Even if the lease is not in the owner's name there are legal options to pursue to get the rent due as per lease terms. Manhattan landlords literally do not forgive lease rent.
I think the more logical thing they do is just pay a cash lump sum for the remaining lease, and break it to avoid legal ramifications/legal exposure. But huge waste of money, but I guess nothing considering the minimum $1M in cash gold brings in. Though some people estimate gross revenue to be greater than $4M.
Also how is the business worth it for owners/providers. One LE bust and you lose *years of your life* all cash at location pay millions in restitution based on prosecutor analysis of your earnings. You also cant be hired for any future legit jobs.
yeah I guess the owner of gold/785/coco/GDS/365 is doing well financially swimming in cash but at the end of the day it can all be gone in a second. The govt even seizes assets like RE because it was purchased using the proceeds of running a brothel.