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SILVERSTEIN PROPS., INC. v. PAINE, WEBBER, JACKSON & CURTIS, INC.

104 A.D.2d 769 (1984)

Silverstein Properties, Inc., et al., Appellants, v. Paine, Webber, Jackson & Curtis, Inc., Respondent

Appellate Division of the Supreme Court of the State of New York, First Department.

October 18, 1984

Respondent, Paine, Webber, Jackson & Curtis, Inc. (Paine Webber) is a tenant in 120 Broadway, New York City, a building owned by Equitable Towers Associates and managed by Silverstein Properties, Inc., the petitioners-appellants. In addition to a fixed rent, the lease requires Paine Webber to pay as additional rent a certain percentage of the increase in operating expenses in any year over the comparable expenses in the base year of 1980.

Paragraph 45 (d) of the...

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