MATTER OF LEXINGTON-79TH CORP. v. TAX COMM'N OF THE CITY OF NEW YORK


30 A.D.2d 524 (1968)

In the Matter of Lexington-79th Corporation, Respondent, v. Tax Commission of the City of New York et al., Appellants

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

May 23, 1968


Judgment unanimously reversed, on the law and the facts, petition dismissed and the assessments reinstated, with $50 costs and disbursements to appellants.

These are consolidated proceedings for the five tax years 1962-1963 through 1966-1967. The property, located at the northwest corner of Lexington Avenue and East 79th Street, is improved with an apartment house, co-operatively owned. The experts for both parties used a capitalization method based on estimated income...

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