Moinian Settles With NBA Store After Claiming The Retailer Owes $9M In Back Rent

Moinian Group and the National Basketball Association have reached a deal over a legal dispute regarding what the landlord claims is millions in unpaid rent.
Moinian launched a lawsuit against its tenant at 545 Fifth Ave. in June 2020, but a notice of discontinuance has now been filed with the New York Supreme Court, The Real Deal reports. The terms of the settlement have not been disclosed.
In the original suit, Moinian had said NBA Media Ventures, which signed a 20-year lease for 25K SF in the building seven years ago, had fallen behind in its rent. The rent was $625K per month,…

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