Petitioners in the instant article 78 proceeding are City Hall Tower Corp., a residential co-operative apartment corporation, and 258 Broadway Realty Corp., the sponsor of the co-operative offering. The building in question, which now contains 44 residential units constructed in "open plan" or "loft" style, was converted from commercial occupancy. The shares and proprietary leases relating to the individual apartments were sold to purchasers under an offering plan dated February...
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