Pathmark Sues as Property Buyer Calls Off Deal

Pathmark is suing a buyer who backed out of an $87 million offer to buy a Pathmark store lease in lower Manhattan, according to a government filing.

MONTVALE, N.J. — Pathmark is suing a buyer who backed out of an $87 million offer to buy a Pathmark store lease in lower Manhattan, according to a government filing. Pathmark in August said it agreed to sell the lease for a store — later identified as its Pike Slip location in New York’s Lower East Side — for $87 million to CPS Operating Co. But CPS backed out of the deal late last month, saying Pathmark violated terms of their agreement, according to the filing. Pathmark subsequently charged

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