Legal Opinion
South Ferry Building Co. v. J. Henry Schroder Bank & Trust Co.
Civil Court of the City of New York
Decided July 29, 1982PublishedCited by 2 opinions
1Opinion of the Court
OPINION OF THE COURT
David B. Saxe, J.
Does a “pay now — fight later” clause that pertains to the payment of “operating expense escalation rent” in a commercial lease, mean what it says?
The essential facts are as follows: The petitioner in this nonpayment summary proceeding is South Ferry Building Company (South Ferry), the owner of a large commercial building at One State Street Plaza in downtown Manhattan. The respondent is South Ferry’s largest tenant, J. Henry Schroder Bank & Trust Company (Schroder Bank).
In their lease signed in 1969, Schroder Bank contracted to pay to South Ferry, as…
2Cases cited5 opinions
- Sillman v. Twentieth Century-Fox Film Corp.New York Court of Appeals · 1957
- City of New York v. New York City Railway Co.New York Court of Appeals · 1908
- Hart v. John G. Hellman Co.Appellate Division of the Supreme Court of the State of New York · 1962
- Hart v. John G. Hellman Co.New York Court of Appeals · 1963
- Barton Realty Corp. v. ManganAppellate Division of the Supreme Court of the State of New York · 1966
3Cited by2 opinions
- Frankel v. ICD Holdings S.A.District Court, S.D. New York · 1996
- Home Insurance v. RHA/Pennsylvania Nursing Homes, Inc.District Court, S.D. New York · 2001