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MATTER OF WOODMERE KNOLLS, INC. v. PROCACCINO

52 A.D.2d 979 (1976)

In the Matter of Woodmere Knolls, Inc., Petitioner, v. Mario A. Procaccino et al., Constituting The State Tax Commission, Respondents

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

May 13, 1976

Petitioner at times pertinent to this proceeding was the owner of two parcels of land in Nassau County improved with two office buildings known respectively as 100 and 200 Garden City Plaza. On June 9, 1969 petitioner borrowed $3,500,000 from the Reliance Federal Savings and Loan Association (hereinafter referred to as Reliance Federal), executing a note, and as security therefor, a first mortgage encumbering 100 Garden City Plaza...

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