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The Strengths of Rights of First Refusal
June 30, 2022On March 30, 2022, the New York State Supreme Court, New York County decided in Times Square JV LLC v. Walber Broadway LLC that a ground lease-tenant that is in default under the ground lease for failure to pay the landlord rent does not per se invalidate the tenant’s right of first refusal under the lease to purchase from landlord the land on which the leased premises is situated.
