On November 17, 1986 Tranel, Inc., as owner, entered into a written lease with Naftali Realty Inc. for the entire rentable area of the top (twelfth) floor of 135 Madison Avenue, in Manhattan, for a 12-year-and-11-month term commencing February 1, 1988. Naftali thereafter entered into a sublease of the demised premises with Periphery Loungewear, Inc., the plaintiff herein, incorporating therein...
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