One would typically assume that an agreement labeled as a “lease,” and designating the parties as “landlord” and “tenant,” was in fact a lease and not some other type of agreement. Such an assumption may not be wise. As the Appellate Division, First Department recently instructed in Women’s Interart Center v. New York City Economic Development Corp.,1 a “lease” may or may not be a lease, depending on the agreement’s terms.
In Women’s Interart, the court was faced with the question of whether a document purporting to be a “net lease” was in fact a leasethereby providing the “tenant” with standing under Article 7 of the Real Property Actions and Proceedings Law (RPAPL) to evict a subtenant in the subject buildingsor was a management agreement, which accorded no such rights. In reversing the Supreme Court, the Appellate Division, after examining the pertinent terms of the agreement, held that the agreement was in fact a lease.
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