In February 1998, petitioner (the City), as landlord, and respondent 130/40 Essex Street Development Corp. (Essex), as tenant, entered into a 20-year lease for a commercial building at 130-40 Essex Street, on the Lower East Side of Manhattan. The City commenced this summary nonpayment proceeding against Essex in October 1999, after Essex failed to cure its arrears in rent, notwithstanding an extension of time the City had granted it. On November 8, 1999, the parties entered...
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