N.Y. Real Property Actions & Proceedings Law § 761: Redemption by lessee

§ 761. Redemption by lessee. Where the special proceeding is founded

upon an allegation that a lessee holds over after a default in the

payment of rent, and the unexpired term of the lease under which the

premises are held exceeds five years at the time when the warrant is

issued the lessee, his executor, administrator or assignee, at any time

within one year after the execution of the warrant, unless by the terms

of the lease such lessee shall have waived his right to redeem, or such

lessee, executor, administrator or assignee shall have subsequently

waived the right to redeem by a written instrument filed and recorded in

the office in which the lease is recorded, or if not so recorded, in the

office in which deeds are required to be recorded of the county in which

the leased premises are located, may pay or tender to the petitioner,

his heir, executor, administrator or assignee, or if, within five days

before the expiration of the year he cannot be found with reasonable

diligence within the city or town wherein the property or a portion

thereof is situated, then to the court which issued the warrant, all

rent in arrears at the time of the payment or tender with interest

thereupon and the costs and charges incurred by the petitioner.

Thereupon the person making the payment or tender shall be entitled to

the possession of the demised premises under the lease and may hold and

enjoy the same according to the terms of the original demise, except as

otherwise prescribed in section 765.