Twitter’s landlord sues after Elon Musk stops paying millions in rent at SF headquarters

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Elon Musk.

  • Twitter’s landlord in SF accused the corporate of skipping out on lease since December.
  • The lease amounted to roughly $3.4 million every month in December and January.
  •  It’s the most recent landlord scuffle for Twitter, which was sued in the UK by King Charles III’s agency.

The landlord of Twitter’s headquarters in San Francisco says issues have taken a flip since Elon Musk took over the platform. 

In a lawsuit filed this month in San Francisco state courtroom, SRI Nine Market Square LLC, an entity associated to the actual property firm Shorenstein, accused Twitter of shirking its lease funds over the last two months, amounting to roughly $3.4 million in every December and January. The constructing is positioned at 1355 Market Street, the place Twitter occupies a number of flooring, in response to the go well with. 

The actual property agency said that it has gotten by up to now by utilizing Twitter’s letter of credit score to assist cowl among the unpaid lease, however that Twitter presently nonetheless owes some $3.2 million this month, in response to the go well with which was beforehand reported by the San Francisco Business Times.

The landlord is also accusing Twitter of violating their settlement by allegedly refusing to lift the scale of its letter of credit score since Musk formally purchased the platform in October. The landlord’s go well with alleged that the change in possession triggered a requirement for Twitter to extend the scale of its letter of credit score, however noted that Twitter denied this was the case. 

Twitter corner.JPG
Twitter’s headquarters at 1355 Market Street, the place its landlord is suing over unpaid lease.

An email to Twitter’s press deal with and Musk’s tesla email deal with didn’t obtain a response forward of publication. Shorenstein didn’t reply to Insider’s request for remark forward of publication.

The lawsuit is the most recent since Musk imposed a change in type to operating the platform, which has concerned shedding 1000’s of staff and reportedly not paying lease. Earlier this month, the owner of Twitter’s Hartford Building at 650 California Street, sued the social media firm over some $136,260 in unpaid lease. 

It appears that not even royalty is secure from Twitter’s alleged lease shenanigans. In the UK, an actual property agency for King Charles III is also pursuing claims against Twitter there for unpaid lease. 

Twitter has also been sued by laid off staff alleging that they weren’t being supplied the severance bundle they’d anticipated based mostly on the assurances of Twitter’s former administration before Musk’s takeover. 

Read the original article on Business Insider

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