- In 2018, Sangertown Square LLC entered into a 10-year lease agreement with Pinz. On Dec. 6, 2023, a rent notice for non-payment went out to PiNZ.
- According to court records, Pyramid Management Group cited part of the lease that entitled them to reserve all rights and remedies to “recover damages for past due amounts.”
Sangertown Square’s bowling alley is in the gutter after allegedly not paying almost $350,000 in rent — and its landlords are demanding $2 million in back rent, early termination and damages.
According to court filings made public May 5, Sangertown Square LLC, managed by Pyramid Management Group LLC, filed a lawsuit on June 3, 2024, with the Onondaga County Supreme Court, alleging a breach of the lease for non-payment of rent.
In 2018, Sangertown Square LLC entered into a 10-year lease agreement with Pinz. On Dec. 6, 2023, a rent notice for non-payment went out to PiNZ. It included a deferred rent payback, meaning the last payment was less than what was agreed upon in the lease.
This non-payment allegedly continued, with additional notices going out to PiNZ Sangertown LLC.
In December, the total amount owed to Sangertown was $30,601.04.
According to Sangertown and court documents, PiNZ originally owed $348,462.35 — $293,114.49 for rent; $25,064.25 for common area expense; $11,583.57 for taxes; $4,795.31 for tax adjustment; $4,848.96 for insurance; $600 for insurance adjustment; $5,991.78 for compactor; and $12,054.21 in late fees.
Pyramid Management Group sent a notice via certified mail declaring that PiNZ was in default and demanded payment within 10 days of notice, or they would terminate the lease for non-payment. The notice was sent on March 18.
According to court documents, Pyramid Management Group sent an official letter of terminated the lease on April 16 and confirmed that PiNZ received the notice on March 24.
Additionally, Pyramid Management Group acknowledged the “…receipt of a partial payment, a wire amount of $5,000, and accepts said payment without waiver and with full reservation of all rights and remedies,” the court documents read. “This payment did not cure the default.”
The lease was terminated and Pyramid Management Group set to recover what it could from PiNZ.
Payment recovery
According to court records, Pyramid Management Group cited part of the lease that entitled them to reserve all rights and remedies to “recover damages for past due amounts.”
“[A] demand is hereby made for the present value of such sums amounting to $1,404,112.31 and for past due amounts totaling $592,867.08,” the court documents read.
Pyramid Management Group said in the documents that $1.4 million represents rent and other benefits that would have been accrued under the 10-year lease. The past due amounts, meanwhile, represent all rent and additional rent due through April 30, water reconciliation and deferred rent.
Pyramid is demanding an additional $58,845.24 for early termination of the lease.
Should the courts rule in favor of Pyramid Management Group, PiNZ could be paying $2.05 million on top of its eviction.
PiNZ shutdown
The Observer-Dispatch attempted to reach out to Pyramid Management Group for comment, but was declined, saying that it couldn’t discuss its tenants.
PiNZ announced its closure on its website.
“It is with a heavy heart that we share the news of the permanent closure of PINZ New Hartford, located at Sangertown Square Mall. Since our opening in 2019, this location has been more than just a business—it’s been a vibrant community, built on the passion, energy, and dedication of our team and the incredible support from guests like you,” the announcement read.
The announcement continued, saying the business faced “a number of challenges,” from rising costs in food, liquor, payroll, and insurance, to shifting trends in mall traffic and entertainment habits.
Additionally, the chain cited an inability to reach an agreement with Sangertown and Pyramid.
“Despite our best efforts to negotiate with the landlord for more favorable terms, we were unable to come to a resolution, which has led to the difficult decision to close this location,” the announcement concludes.
