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E. 41ST ST. ASSOCS. v. 18 E. 42ND ST.

248 A.D.2d 112 (1998)

669 N.Y.S.2d 546

East 41st Street Associates, Respondent, v. 18 East 42nd Street, L.P., Appellant, et al., Defendant

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

March 3, 1998

Plaintiff East 41st Street Associates is the landlord and defendant 18 East 42nd Street, L.P., the tenant under a net lease which expires May 31, 2004. Defendant Diversified Credit, Inc. is the holder of a mortgage secured by the net lease, having succeeded to the interest of the First New York Bank for Business, now insolvent. The net lease provides for annual rent in the amount of $100,000, to be paid in one lump sum. It further...

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