Rite Aid Accuses NYC Landlord Of Overbilling For Taxes

Law360, New York (April 25, 2012, 2:44 PM EDT) -- Rite Aid Corp. sued the property manager of one of its Manhattan stores Tuesday, accusing the company of overbilling the drugstore chain for its share of property taxes related to the location.

The complaint, lodged in New York state court against Chalfonte Realty Corp., alleges that the pharmacy agreed to pay 50 percent of any annual property tax increases assessed against the property leased by Rite Aid in addition to monthly rent. However, the retailer says that since 2006, it has unwittingly paid a share of...
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