Tyra Banks, the renowned modeling icon and entrepreneur, is embroiled in a lawsuit amounting to $2.8 million linked to her ice cream shop venture, Smize & Dream, located in Washington, D.C. The lawsuit has been filed by landlord Christopher Powell, who alleges that Banks and her business partner, Louis Martin, violated a 10-year lease agreement for the shop in the Eastern Market area.
According to reports from NBC Washington, Powell claims that Banks and Martin abandoned the lease shortly after signing it in April 2024. He asserts that they diverted their focus to a new location in Sydney, Australia, while leaving him to deal with what he describes as a breach of contract. Powell notes that the project was still active as of June 2024, despite their withdrawal, with a Smize & Dream pop-up shop held nearby that featured prominent attendees, including Vice President Kamala Harris.
The lawsuit highlights Powell’s significant investments in the Eastern Market property, which included extensive planning and the rejection of other potential tenants during negotiations. He contends that this has resulted in a “deep financial loss,” prompting him to seek compensation through legal means.
In response, the legal team representing Banks and Martin has characterized the lawsuit as meritless, claiming it is an attempt by Powell to extract funds from them. They emphasize that the claims are directed at the School of SMiZE LLC rather than Banks and Martin personally. Furthermore, the defense has raised concerns regarding the property itself, citing a range of “myriad mechanical, electrical, and plumbing deficiencies” that were not in “good working order.” They estimate that repairs would cost approximately $980,000, which influenced their decision to terminate the lease.
Legal Proceedings and Future Implications
Court documents reveal that Powell is seeking back rent and future monthly payments, which contribute to the substantial figure of the lawsuit. His attorney, Arziki Adamu, is expected to file a response to the motion to dismiss from Banks and Martin’s legal team by December 30, 2024. At this time, Powell’s counsel has provided no additional comments regarding the ongoing dispute.
As the case develops, the legal battle between Banks and Powell continues, with the resolution of this financial disagreement hinging on the court’s evaluation of the claims and defenses presented. The outcome could have significant implications not only for Banks and her business ventures but also for the broader landscape of commercial lease agreements in the hospitality sector.
