Since 1987, Reliance Insurance Company had been a tenant at 77 Water Street in Manhattan, which is owned by plaintiff, pursuant to a lease that was periodically amended and supplemented. In 1998, the two parties entered into a restated lease extending the lease term through February 2012 at an initial base rent of $8.408 million. Two years later, Reliance approached plaintiff seeking an early termination of the lease and asking plaintiff to find another tenant. An agreement...
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