It's not just struggling mom-and-pop shops that suffer under the weight of insane rent gouging. The iconic Four Seasons Restaurant may be ousted from its longtime digs inside the Seagram Building if lease negotiations with the building's owner don't swing in their favor.
The Post reports that a lender stipulation in a $783 million mortgage taken out by building owner Aby Rosen requires a substantial rent increase. The current $20 per square foot lease would increase to $105 per square foot, according to Eater.
Four Seasons co-owner Julian Niccolini remains optimistic despite the rumors. "We've been here since 1959, and we'll be here for another 15 years." If the parties can't come to an agreement when the restaurant's lease expires in 2016 then the eatery will be forced to vacate.
There's further speculation that Rosen may want to open his own restaurant if the Four Seasons is successfully ousted. A famous Picasso tapestry owned by the New York Landmarks Conservancy will be removed from the restaurant, which some see as a ploy for Rosen to move in a piece from his own collection to bolster his place in the space. #richpeople
