On December 26, 1963, Daniel Steingart and Joseph Gershman purchased premises known as 619 West 54th Street, New York City, from John J. Reynolds. As part of the purchase price, the purchasers executed and delivered a purchase-money mortgage to the seller in the sum of $500,000 and, at the time of the recording of said mortgage, the mortgage tax in the sum of $2,500 was duly paid. This mortgage was subordinate to a first mortgage on the...
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