Periphery Loungewear, Inc. v. Kantron Roofing Corp.

OPINION OF THE COURT

Sullivan, J, P.

On November 17, 1986 Tranel, Inc., as owner, entered into a written lease with Naftali Realty Inc. for the entire rentable area of the top (twelfth) floor of 135 Madison Avenue, in Manhattan, for a 12-year-and-l 1-month term commencing February 1,1988. Naftali thereafter entered into a sublease of the demised premises with Periphery Loungewear, Inc., the plaintiff herein, incorporating therein by reference the terms of its lease (overlease) with Tranel. In signing the sublease, plaintiff acknowledged that it "ha[d] read and is familiar with the terms of the…