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EQUITABLE TOWER ASSOCS. v. ASARCO INC.

127 A.D.2d 456 (1987)

Equitable Tower Associates, Appellant, v. Asarco Incorporated, Respondent

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

February 3, 1987

For approximately 70 years defendant Asarco Inc., a nonferrous metals and minerals company, maintained its offices in the Equitable Building located at 120 Broadway. The last lease entered into was between the 120 Broadway Company, the predecessor of plaintiff landlord, and defendant for a five-year term expiring on April 30, 1984. The lease contained a rider which, in pertinent part, provided for a rent credit of $100,000 for certain permanent improvements made to common...

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