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61 ASSOCS. v. 425 FIFTH AVE. REALTY ASSOCS.

207 A.D.2d 323 (1994)

615 N.Y.S.2d 687

61 Associates, Respondent, v. 425 Fifth Avenue Realty Associates, L.P., et al., Respondents. Yeshiva University, Nonparty Appellant

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

August 25, 1994

It is undisputed that, pursuant to Article 22 of the lease between Yeshiva University, as landlord, and 425 Fifth Avenue Realty Associates, as tenant, Yeshiva terminated the lease, effective November 6, 1991. Since a leasehold mortgage has no duration beyond the term of the lease (Miller v Warren, 94 App Div 192, 193-194, affd 182 N.Y. 539; see also, 77 NY Jur 2d, Mortgages, § 151), at that point 61 Associates' leasehold mortgage ceased to exist...

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