1000 Second Avenue Corp. v. Trust

Order and Judgment (one paper), Supreme Court, New York County (Herman Cahn, J.) entered November 2, 1990, which dismissed the petition seeking to set aside an arbitration award, unanimously affirmed, with costs.

Petitioner is the prime tenant of commercial premises owned by respondent. At the time petitioner’s initial lease expired in 1985, petitioner exercised its option for an additional 21 year term. No agreement as to the rent could be reached and the matter was submitted to arbitration as provided in the lease. Pursuant to the arbitration award which was subsequently rendered, the…