Ordered that the judgment is reversed, on the law, with costs, and the petition is granted.
A renewal provision in the lease between the petitioner tenant and the respondent landlord provides the tenant with the "right, option and privilege" to renew the lease for a 21-year term. The lease also provides that if the parties are unable to agree upon the amount of rent for the renewal term, "the same shall be fixed by arbitration as provided for by the Civil Practice...
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