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BAYGOLD ASSOC v. CONGREGATION

No. 66.

19 N.Y.3d 223 (2012)

2012 NY Slip Op 3472

BAYGOLD ASSOCIATES, INC., Appellant, v. CONGREGATION YETEV LEV OF MONSEY, INC., Respondent. (And Another Action.)

Court of Appeals of New York.

Decided May 3, 2012.

Attorney(s) appearing for the Case

Hinman Straub P.C., Albany ( James T. Potter and Joseph M. Dougherty of counsel), and Maizes & Maizes, LLP, Bronx ( Michael H. Maizes of counsel), for appellant.

Rosenwasser Law, P.C., Montgomery ( Stewart A. Rosenwasser of counsel), and Mischel & Horn, P.C., New York City ( Scott T. Horn of counsel), for respondent.

Chief Judge LIPPMAN and Judges CIPARICK and READ concur with Judge PIGOTT; Judge SMITH dissents in a separate opinion in which Judge GRAFFEO concurs; Judge JONES taking no part.

OPINION OF THE COURT

PIGOTT, J.

In J. N. A. Realty Corp. v Cross Bay Chelsea, we held that equity will intervene to relieve a commercial tenant's failure to timely exercise an option to renew a lease where (1) such failure was the result of "inadvertence," "negligence" or "honest mistake"; (2) the nonrenewal would result in a "forfeiture" by the tenant; and (3) the landlord would not be prejudiced...

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