455 Seventh Avenue, Inc. v. Frederick Hussey Realty Corp.

On January 7,1924, the plaintiff-appellant as tenant, and the defendant-respondent as landlord, entered into a lease covering certain premises on Seventh Avenue between 34th and 35th Streets, New York City, for a term of twenty-one years beginning February 1, 1924, and ending February 1, 1945, reserving an .annual rental of $100,000 for the first year and $150,000 for each of the remaining years, to be paid quarterly, •in advance. By the terms of the lease there were provided two possible renewal terms of twenty-one years each at the option of the lessee. The lease also provided for the…