In 1986, plaintiff, a large stock brokerage house, moved to a new building constructed by Olympia & York Org. ("O&Y"). O&Y promised to indemnify plaintiff if it could not sublease its prior space at One New York Plaza which it had occupied since 1968 (floors 31 through 33). Defendant, which had already leased space on the 29th floor of One New York Plaza, was interested in leasing the 33rd floor from plaintiff. Defendant would only lease that floor on the condition...
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