$300K in back rent the talk of Sitt’s Town

Town Residential, the posh Manhattan real estate brokerage that is being sued by its former head of sales, owes nearly $300,000 in back rent for its office just steps from Bryant Park, the landlord claims.

When reached by The Post, a spokesman for Town disputed the claims, and then later on Sunday said Town had “settled” the matter and would pay an unspecified amount on Tuesday.

The issue stems from space on the 10th and 11th floors that Town sublet in the building, located at 25 W. 39th St. Joe Sitt’s Thor Equities owns the building. Complicating matters, Sitt is also a co-owner of Town.

Just last week, Sitt was accused of starving the brokerage of funds and skipping out on rent payments at its outposts around the city.

Wendy Maitland, a top broker who left Brown Harris Stevens to help launch Town, sued the brokerage, claiming she is owed $300,000 in commissions and that the company is “rudderless.”

In response to the suit, Town’s lawyer Joseph Lee Matalon said the brokerage is “financially sound” and does not owe any rent.

But a letter the landlord sent to Town in May claims otherwise, saying the brokerage owes $296,840.02 in rent since January and is behind on water, electricity and internet bills going back two years.

Town launched in 2010, and Sitt joined as co-owner in 2011. After that, several high-profile Town offices went up across the city — some of which have been shuttered.

Town Residential paid Thor Equities around $4 million to rent office space in buildings owned by Thor, including separate rent fees to use the roof space of the buildings, sources said.

Town also paid hundreds of thousands of dollars to advertise in Man of the World, a magazine backed by Sitt that is also housed at 25 W. 39th St.