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CITY OF NEW YORK v. FC 42ND ST. ASSOC., L.P.

8350N. 451648/17.

169 A.D.3d 431 (2019)

91 N.Y.S.3d 886

2019 NY Slip Op 00972

City of New York, Appellant, v. FC 42nd Street Associates, L.P., Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided February 7, 2019.

Article 3.01 (c) of the parties' Ground Lease unambiguously provides for arbitration of the instant dispute concerning the Fair Market Value of certain property (see Matter of Excelsior 57th Corp. [Kern], 290 A.D.2d 329, 330 [1st Dept 2002]; ITT Sheraton Corp. v 801 Seventh Ave., 184 A.D.2d 329, 329 [1st Dept 1992]). The arbitrators are qualified professionals competent in the area of land...

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