Rainbow Room

The legendary Rainbow Room, located in the Rockefeller Center has become another victim of the current recession. The Rainbow Room operators have been given eviction papers. The Rockefeller Center's owners plan to end the Cipriani family's lease for the glitzy restaurant with its revolving dance floor because of unpaid back rent.

Earlier this month the Cipriani family announced they would close the Rainbow Grill but plan to continue with the bar, banquet space and the weekend dinner-dancing sessions on the 65th floor.

Cipriani signed a 10-year lease for the Rainbow Room in 1998, for $4 million a year. Rockefeller Center owners Tishman-Speyer reappraised the property in 2007. They claimed that the space was worth $8.7 million and started charging that amount in February 2007, extending the Cipriani lease for five more years, officials say.

The Cipriani family are planning to fight the eviction. Cipriani has filed a lawsuit against the landlords in an attempt to prevent the eviction. The family is also seeking $1.8 million in damages.New York Post: Ciprianis Sue In Food Fight (January 13, 2009)