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REINAH DEV v. KAATERSKILL

86 A.D.2d 50 (1982)

Reinah Development Corp., Appellant-Respondent, v. Kaaterskill Hotel Corp. et al., Respondents-Appellants

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

April 6, 1982

Attorney(s) appearing for the Case

David Halperin of counsel (Evelyn F. Cohen with him on the brief; David Halperin, P. C., attorney), for appellant-respondent.

Michael R. Gottlieb of counsel (Markovits, Markovits, Blustein & Gottlieb, P. C., attorneys), for respondents-appellants.

ROSS, J. P., FEIN and MILONAS, JJ., concur.

BLOOM, J.

Defendant Kaaterskill Hotel Corp. was the owner of Young's Gap Hotel, located in Liberty, New York. Defendant Portnick was the president and the principal of Kaaterskill and acted for it in the events hereinafter set forth.

Kaaterskill, which had purchased the property in August, 1968 for $275,000, sold it to Reinah, the plaintiff, in April, 1970 for the sum of $355,000. While the precise terms...

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