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Landlord & Tenant
Renewal Option
Omansky v. 160 Chambers Street Owners, Inc.
2017 WL 5328778, 11/14/17
AppDiv, First Dept.
(memorandum opinion)
In landlord's commercial holdover proceeding, tenant appealed from Supreme Court's judgment of eviction. The Appellate Division affirmed, holding that tenant had not effectively exercised its option to renew the lease.
Landlord, a co-operative corporation, rented commercial premises to tenant for a 25-year term with an option to renew. The lease required that the option to renew be exercised within 60 days before the end of each 25-year term, and also required the co-op corporation to notify tenant of his right to exercise the renewal option within 15 days of the expiration of the lease.
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