1250 Broadway, 27th Floor New York, NY 10001

ANOTHER DIMENSION?

As a commercial lease was coming to an end, Fifth Avenue Building Co., LLC demanded that its tenant remove all installations and improvements from the office space. But because it didn't agree with its landlord's position, Satellite Asset Management filed a case with the New York County Supreme Court asking a judge to determine whether the tenant was obligated to comply.

Both the New York County Supreme Court and Appellate Division, First Department, were of the view that the parties' agreement required the landlord to give a removal notice at the time it originally consented to the tenant's work. Since that wasn't done, Satellite could leave things be.

(The landlord was also found to have waived any restoration rights under the lease, because it unreasonably delayed approval of the tenant's end-of-lease work.)

That landlord sure crossed over.

To view a copy of the Appellate Division's decision, please use this link: Satellite Asset Mft., L.P. v. Fifth Ave. Bldg. Co., LLC

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