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http://nycourts.law.com/CourtDocumentViewer.asp?view=Document&docID=46476 Justice Kornreich PLAINTIFF OPERATED the Union Square Theater pursuant to a 10-year lease, entered into in May 1994, under which it held a right of first refusal if defendant owner decided to sell the property. On Aug. 22, 2000, defendant contracted to sell the premises to one of plaintiff’s competitors for $7.7 million. After exercising its first-refusal right the parties contracted for the theater’s sale to plaintiff for $7.7 million. Plaintiff sued for damages claiming defendant’s breach of the lease’s first refusal provision and conspiracy or collusion to artificially inflate the property’s purchase price. The court granted defendant’s summary dismissal motion. It found no evidence of conspiracy or collusion to inflate the purchase price, noting that the record supported defendant’s claims that plaintiff’s competitor was prepared to pay $7.7 million for the property and that defendant’s agreement to sell the property was properly contingent on plaintiff tenant’s right of first refusal.

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