General Property Corp. v. Diamond

Defendant moved to vacate a Us pendens and to dismiss the fifth cause of action. Plaintiff relies on the first and fifth causes of action to support the Us pendens. The allegations of the first cause of action follow. Defendant is the lessee of certain real property located on Third Avenue and 58th Street, Manhattan, by virtue of a lease with Young, the owner of the fee, made December 22, 1965. Under this lease defendant was obligated to demolish the existing structure and erect a modern office building on the plot. On the same day Young contracted to sell the premises to Chase Manhattan Bank…