Marriott Hotels has been sued by a Manhattan landlord for the alleged misappropriation of $12 million at its now-defunct Marriott East Side hotel. An Ashkenazy Acquisition-backed joint venture, which owns the building at 525 Lexington Avenue, filed the lawsuit against Marriott in New York State Supreme Court last week, Crain’s reported. According to the suit, the hotel used $12 million from maintenance and repair reserves to boost its balance sheet. The landlord also seeks $42
source https://therealdeal.com/2020/10/12/lawsuit-accuses-marriott-of-misappropriating-funds-at-east-side-hotel/
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