1014 Fifth Avenue Realty Corp. v. Manhattan Realty Co.1014 Fifth Avenue Realty Corp. v. Manhattan Realty Co.
OPINION OF THE COURT
Memorandum.
The order of the Appellate Division should be reversed, with costs, and plaintiff’s motion for summary judgment denied.
Plaintiff is correct in arguing that its faithful performance of the covenants, conditions and agreements required to be performed by it is a condition precedent to its exercise of the purchase option in the lease which need not be pleaded in its complaint (
Nor does the fact, relied upon by the Appellate Division, that "defendant does not dispute that plaintiff is entitled to renew” the lease (
Nor can we conclude from the affidavits alone that plaintiff’s deviations from the requirements of the lease were de minimis. Restoration Realty Corp. v Robero (
Chief Judge Wachtler and Judges Meyer, Simons, Kaye, Alexander and Titone concur in memorandum; Judge Hancock, Jr., taking no part.
Order reversed, etc.
Notes
. The Appellate Division memorandum does not specify the source of the statement, but both briefs submitted to us refer to the quoted statement as the source.
. The condition of the renewal option is that "the Lessee shall fulfill and duly perform the conditions, covenants and terms”; the purchase option is "conditioned upon the faithful performance by the Lessee of all covenants, conditions and agreements”. (Emphasis supplied.)