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READE v. STONEYBROOK REALTY, LLC

63 A.D.3d 433 (2009)

882 N.Y.S.2d 8

DUANE READE, Respondent, v. STONEYBROOK REALTY, LLC, Appellant, et al., Defendant.

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

Decided June 4, 2009.

The rent abatement clause in the lease between these sophisticated parties was an enforceable liquidated damages provision and not a penalty, since it compensated the tenant, which was to operate in a new geographical market, for damages flowing from delays in delivering possession that were not readily ascertainable when the parties executed the lease, and such damages were not unreasonably disproportionate to foreseeable losses...

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