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23 EAST 39TH STREET MANAGEMENT CORPORATION v. 23 EAST 39TH STREET DEVELOPER, LLC

117303/08, 15971, 15970, 15969.

134 A.D.3d 629 (2015)

23 N.Y.S.3d 33

2015 NY Slip Op 09605

23 EAST 39TH STREET MANAGEMENT CORPORATION, Appellant-Respondent, v. 23 EAST 39TH STREET DEVELOPER, LLC, Respondent-Appellant/Counterclaim Plaintiff-Respondent-Appellant, et al., Defendants. ALLEN GUTTERMAN, Counterclaim Defendant-Appellant-Respondent.

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

Decided December 29, 2015.

Plaintiff (tenant) and defendant (landlord) entered into a lease dated August 31, 2007, which became effective October 9, 2007. In accordance with the terms of the lease, tenant paid landlord a $400,000 security deposit to be held in a segregated account. Counterclaim defendant Allen Gutterman executed a personal guaranty dated August 31, 2007, guaranteeing tenant's obligations under the lease.

Either party had the right...

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