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BLEECKER ST. v. BLEEKER JONES

65 A.D.3d 240 (2009)

882 N.Y.S.2d 42

BLEECKER STREET TENANTS CORP., Appellant, v. BLEEKER JONES LLC et al., Respondents, et al., Defendants.

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

June 23, 2009.

Attorney(s) appearing for the Case

Genoa & Associates, P.C., Old Brookville (Marilyn K. Genoa of counsel), for appellant.

Goldberg Weprin Finkel Goldstein LLP, New York City (Matthew Hearle of counsel), for respondents.

GONZALEZ, P.J., MAZZARELLI, MOSKOWITZ AND RICHTER, JJ., concur.

OPINION OF THE COURT

SAXE, J.

This appeal requires us to consider the centuries-old rule against perpetuities, specifically, whether the exception to the prohibition against remote vesting of options appurtenant to a lease is applicable to the renewal option clause contained in the parties' lease.

Plaintiff Bleecker Street Tenants Corp. is the owner of the building located at 277-279 Bleecker Street, a six-story walkup that was converted to cooperative...

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