Eater: Del Posto Lease Derailment: Related Buys Building, Intends to Honor Lease

Del Posto Lease Derailment: Related Buys Building, Intends to Honor Lease
Tuesday, June 12, 2007

Adam Goldman for the AP has reports today on what may be the final chapter of the 18-month-long battle between Del Posto and their landlord, Somerset Partners. Since we've haven't mentioned this story in a while, let's review: In January of 2006 it become clear that Del Posto had violated their lease agreement by building in spaces not expressly listed in their least agreement (the extent of these violations wasn't clear) and that Somerset Partners intended to use these violations to get rid of the Batali/Bastianich restaurant and the sweetheart lease they'd negotiated on the space. A back-and-forth in and out of the legal system ensued, with various rulings and such that suggested Del Posto was ultimately going to prevail in the fight.

Now, the battle appears over. The building has been sold to Related Partners for $430 million and the new owners have indicated they don't plan on perusing Del Posto's eviction:

Somerset had been trying to evict Del Posto for months, taking the owners to court in order to force them out.

But with the purchase, Joseph Bastianich, Lidia's restaurateur son, said Tuesday that the litigation was terminated, and Related was honoring the original lease that allows them to use contested space.

"It's over as far as I'm concerned," Bastianich said.

Somerset's lawyer, Warren Estis, confirmed that the legal imbroglio had concluded.

· Del Posto restaurant remains open after acrid dispute [Newsday]
· Molto Mario Del Evicted? [~E~]
· Eater Exclusive: Inside Del Posto's Lease Derailing [~E~]
· Del Posto Lease Battle: Your Reservations Safe for Now [~E~]

Posted in EaterWire, Manhattan: Meatpacking/MePa North, Manhattan: NoMeat

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