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BLAYLOCK & PARTNERS, L.P. v. 609 FIFTH AVENUE PARTNERS L.L.C.

29 A.D.3d 476 (2006)

816 N.Y.S.2d 434

BLAYLOCK & PARTNERS, L.P., Respondent-Appellant, v. 609 FIFTH AVENUE PARTNERS L.L.C., Appellant-Respondent, et al., Defendant.

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

May 30, 2006.

As a matter of law, the release language in the parties' surrender and cancellation of lease agreement, whereby Blaylock agreed to assign its sublease to FAP in exchange for valuable consideration, released Blaylock from its sublease obligation to pay one half of that consideration to FAP. Blaylock was released from all sublease obligations that accrued from and after the assignment, including the sublease provision obligating Blaylock as sublessee-assignor to pay FAP, as...

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