In 2017 when CHS first reported on the arrival of the club-focused 1923 Management and F2T Hospitality company offices on E Olive Way, a plan for a new ambitious speakeasy-style bar in the neighborhood also included a twin fashion retail venture’s move to the Hill.
With the shuttered By the Pound now embroiled in a $75,000 lawsuit over unpaid rent, it turns out paying the bills is also an issue for the fashion end of things on Capitol Hill for the companies involved.
According to King County Superior Court records filed in October, the company behind Estate — “a home for international streetwear/contemporary menswear. Brands: Estate, Represent, Knomadik, En Noir, Stampd La, Chapter, I Love Ugly & much more” planned but now shuttered in the new Modera building on 10th Ave — owed around three months in in unpaid rent for the Pike/Pine shop.
Similar to the situation on E Olive Way at By the Pound, lawyers for the building’s management company write that the ownership behind Estate including F2T’s Ali Olyaie failed to respond after initial discussions about remedying the $18,243.15 in unpaid rent for the 1,800-square-foot space.
UPDATE 11/28/2018: Ali Olyaie tells CHS that the situation has been settled with the landlord debt satisfied and that Estate is planned to open in coming weeks.
Shervin Roohparvar, part of the ownership behind By the Pound, is also named in the lawsuit. Matt Mead, who identified himself as marketing director for both 1923 Management and F2T Hospitality when CHS talked with him in 2017, is the registered agent for the corporation behind Estate, according to state records.
The Estate judgment joins with the totals in the By the Pound case for around $93,000 in unpaid rent in total. CHS is not aware of other lease issues with the companies and their activities around the Hill. The ownership partners have created other Seattle nightlife ventures including the Alchemy bar and Vine & Spoon in West Seattle as well as SoDo’s Aston Manor nightclub and its in-house restaurant Maison Tavern.
By the Pound was planned to reopen as a new Bar Justice project from the same ownership but the space remains dark and papered over as does the Estate shop in the 1400 block of 10th Ave. A representative for the ownership has not responded to questions about the situation.
UPDATE 11/28/2018: According to Olyaie, who says he is the business’s promoter and not an owner, the bar is also still being planned to open. As for what caused the financial issues, Olyaie tells CHS the partners behind the project got spread too thin. “We opened three restaurants. Capitol Hill was supposed to be a speakeasy behind a deli but the bar was too small and the deli just wasn’t doing well,” he said. Olyaie said there has been too much effort to walk away including “hundreds of thousands of dollars and countless hours.”
UPDATE: YAY! We're back above 700 subscribers! Join the club! Consider becoming a subscriber at $1/$5/$10 a month to help CHS provide community news. Help push us back to the 700 mark... and beyond You can also sign up for a one-time annual payment.