72nd & First, Inc. v. Kraushar

Defendant owner (referred to as “ owner ”) moves for summary judgment, and plaintiff tenant (referred to as “tenant”) agrees there is no triable issue of fact and ‘ ‘ only a question of law or legal interpretation of a document is really involved herein ”.

The issue is whether the 72-page printed lease requires the tenant to make one or both of the following payments, in addition to the regular stipulated minimum rental:(1) Ten per cent of any excess gross income over $550,000, up to $600,000, plus 20% of any excess gross income over $600,000 (Lease, dated Feb. 19, 1960, art. 5 — Gross Income,…