Donald Carbone and Joel MacMull in a breach of contract case, recently received an Appellate Court decision affirming the lower court’s ruling that a tenant in our client’s building was not entitled to any income arising from the owner’s leasing of exterior billboard space. The dispute involved a clause in the tenant’s lease which provided that if the tenant were to obtain a third-party to rent exterior billboard space it would receive one-half of such income. Although the tenant never obtained a third-party to lease the billboard space, and it was the owner who leased the billboard space directly to a third-party, the tenant nevertheless demanded that it was entitled to its share of almost fifteen years of back rents in excess of $250,000.00. On a motion for summary judgment, the trial court rejected the tenant’s claim relying on the precise language of the lease highlighted by Goetz Fitzpatrick LLP and the Appellate Division, First Department unanimously affirmed the lower court’s order dismissing the tenant’s case in its entirety. Click to read the full decision.