Pursuant to a 21-year lease executed in 1972, plaintiff tenant operated a health spa and a swimming pool in the cellar and subcellar of the Biltmore Hotel (Biltmore), located at 43rd Street and Madison Avenue, Manhattan. In 1978 Builtland Partners (Builtland) purchased the Biltmore and became plaintiff's landlord. Article 61 of plaintiff's lease reads in pertinent part: "If Landlord shall enter into a bona fide arrangement to demolish * * * the building of which the demised...
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