936 SECOND AVENUE L.P. v. SECOND CORPORATE DEVELOPMENT CO., INC.


37 A.D.3d 190 (2007)

830 N.Y.S.2d 59

936 SECOND AVENUE L.P., Appellant-Respondent, v. SECOND CORPORATE DEVELOPMENT CO., INC., et al., Respondents-Appellants.

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

Decided February 6, 2007.


The net lease, which plainly requires consideration of the value of the demised land "together with all buildings and improvements thereon" as they exist on the date of the commencement of the second renewal term, subject to any existing tenancies and laws, ordinances or regulations, but without regard for any loss or damage that tenant was or will be obligated to replace or rebuild, clearly calls for an "as is" appraisal based on the actual use of the demised premises that...

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