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HUTCHINSON PKWY. APTS. v. CITY OF N. Y.

22 A.D.2d 168 (1964)

Hutchinson Parkway Apartments, Inc., Appellant-Respondent, v. City of New York et al., Respondents-Appellants

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

December 10, 1964.

Attorney(s) appearing for the Case

Martin E. Hecht of counsel (Simon Gallet and Irwin K. Fingerit; Gallet, Hecht & Fingerit, attorneys), for appellant-respondent.

Charles A. La Torella, Jr., of counsel (Seymour B. Quel and Philip V. Sherman with him on the brief; Leo A. Larkin, Corporation Counsel, attorney), for respondents-appellants.

McNALLY, EAGER, STEUER and WITMER, JJ., concur.

RABIN, J.

The plaintiff is a limited-profit co-operative housing corporation organized pursuant to the Mitchell-Lama Act (Public Housing Law, § 301 et seq.). Pursuant to the provisions of said act the defendant, City of New York, granted plaintiff a tax exemption and made a mortgage loan to it. The mortgage provided that the plaintiff, as borrower, was to pay, in addition to interest, "a proportionate...

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