4TH AVE ASSOC v. FIN ADMIN


101 Misc.2d 950 (1979)

In the Matter of 111 Fourth Avenue Associates, Petitioner, v. Finance Administration of the City of New York et al., Respondents.

Supreme Court, Special Term, New York County.

July 18, 1979.


Attorney(s) appearing for the Case

Bell, Wolkowitz, Beckman, Klee & Green (Robert Bell of counsel), for petitioner. Allen G. Schwartz, Corporation Counsel, for respondents.


BENTLEY KASSAL, J.

ISSUE

The issue in this CPLR article 78 proceeding is which assessed valuation shall be used as the base figure in computing a "J51" real estate tax exemption (pursuant to Administrative Code of City of New York, § J51-2.5; Real Property Tax Law, § 489)?

FACTS

On December 30, 1976, the petitioner acquired title to a 14-story loft building in Manhattan...

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