Suffolk Business Center, Inc. v. Applied Digital Data Systems, Inc.

The Court is called upon to decide whether the repurchase provision in issue is a condition subsequent or a restrictive covenant, a determination that obviously has significant impact on plaintiff’s remedy.

If — as plaintiff grantor, Suffolk Business Center (SBC), argues — defendant violated a covenant or contract right, the *391remedy will be specific performance by reconveyance of property or the monetary equivalent. If, on the other hand, the provision is a condition subsequent, enforcement must take place through the procedural vehicle of RPAPL 1953. Under the statute, defendant’s interest…