Lipstick Building ground rent reset leads to appraisal dispute

Even in the best of times, market-value rent resets on ground leases have been notorious for causing disputes between building owners and the lessors of the ground underneath them. And then there is what’s happening at the famed Lipstick Building, where the coronavirus has fueled an increasing number of problems that started in May. That’s when the office building owner — a partnership led by Argentina’s Inversiones y Representaciones Sociedad Anónima, or IRSA — defaulted

source https://therealdeal.com/2020/07/09/lipstick-building-ground-rent-reset-leads-to-appraisal-dispute/