Darnet Realty Associates, LLC v. 136 East 56th Street Owners, Inc.
Opinion of the Court
Order, Supreme Court, New York County (Eileen Bransten, J.), entered March 13, 1997, which, insofar as appealed from, denied plaintiff shareholder/tenant’s motion for summary judgment, unanimously modified, on the law, to grant plaintiff partial summary judgment on the 11th cause of action of the amended complaint to the extent of finding that defendant cooperative corporation/landlord does not have any lien or other valid claim for any rent or additional rent claimed to be due under the commercial master lease against the shares of stock owned by plaintiff and allocated to unsold residential units, and otherwise affirmed, without costs.
The language of the commercial master lease is unambiguous in stating that “Landlord shall look solely to Tenant’s interest in the leasehold estate for the satisfaction of the remedies of Landlord in the event of a breach by tenant of any of the covenants or conditions of this Lease.” Defendants, therefore, have no recourse against plaintiffs interest in the shares of the cooperative corporation allocable to the unsold residential units. The cooperative’s by-law provision on which defendants
Case-law data current through December 31, 2025. Source: CourtListener bulk data.