New details have emerged on the terms of Core Club’s 45K SF Transamerica Pyramid lease and how much billionaire developer Michael Shvo would lose if it was rescinded as part of a legal proceeding in New York. The San Francisco Business Times reported Wednesday that Shvo and his affiliates could lose $178M over 20 years if the New York Supreme Court grants Core Club’s request to rescind its lease. The members-only club hasn’t taken occupancy and hasn’t started paying rent on its space.
Source: Core Club Lawsuit Over Transamerica Pyramid Space Could Cost Shvo Nearly 0M In Rent