Order entered on or about May 5, 1961, reducing the assessments on premises at 29 Broadway, Block 20, Lot 1 for the tax years 1956-1957 through 1960-1961, inclusive, unanimously reversed, on the law and the facts, and the assessments reinstated and confirmed, without costs or disbursements.
The record lacks substantial basis for a reduction of the assessments from $3,400,000 for the years in question. The property was sold to the petitioner in 1952 for $3,625,000...
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