"Carriers like Dish, T-Mobile and Verizon pay about 1,500 New York building owners to lease space on their rooftops for cell towers. But Dish has made the unprecedented move of disappearing, leaving those landlords with no payments and thousands of dollars of equipment in place. Elsewhere in the country, major telecom companies are suing Dish for defaulting on its obligations."
"Most of these rooftop cell tower leases are 25- to 30-year terms, said Meir Waldman, CEO of Nexus Towers, which advises landlords on tower leases. It takes a carrier about $250,000 to build out a site, meaning they don't want to move them around often. A majority of these leases are in the $2,000 to $5,000 per month range."
"The dispute with Dish gives insight into a unique sector of the New York real estate market, one in which landlords have little recourse when tenants stop paying. Some landlords, especially those operating rent-stabilized buildings, depend on the revenue boost from Dish to cover costs."
Dish Wireless has ceased paying rent on rooftop cell tower leases throughout New York, affecting approximately 1,500 building owners. Landlords report inability to contact the company or receive payments, creating significant financial hardship particularly for rent-stabilized building operators who depend on this revenue. Rooftop cell tower leases typically span 25-30 years with monthly payments ranging from $2,000 to $5,000, representing substantial income for property owners. Carriers invest approximately $250,000 to build out each site, making relocation unlikely. This situation mirrors disputes occurring elsewhere in the country where major telecom companies face lawsuits for defaulting on lease obligations. Landlords have limited legal recourse in this unique real estate sector.
#dish-wireless-rent-default #rooftop-cell-tower-leases #new-york-real-estate #landlord-tenant-disputes #telecom-infrastructure
Read at therealdeal.com
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