MATTER OF PENTHOUSE MFG. CO., INC. v. ASSESSOR OF THE VILL. OF FREEPORT


102 A.D.2d 870 (1984)

In the Matter of Penthouse Manufacturing Co., Inc., Respondent, v. Assessor of the Village of Freeport et al., Appellants. (Proceeding No. 1.) In the Matter of E. V. Game, Inc., Respondent, v. Board of Assessors of the Village of Freeport, Appellant. (Proceeding No. 2.) In the Matter of Three C. Realty Corp., Respondent, v. Board of Assessors et al., Appellants. (Proceeding No. 3.)

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

June 18, 1984


¶ Judgments affirmed, without costs or disbursements.

¶ The three commonly used approaches to determine the value of realty are the comparative sales or market data approach, the income approach, and the cost approach. In Matter of Merrick Holding Corp. v Board of Assessors (45 N.Y.2d 538, 542), the Court of Appeals pointed out that generally speaking "the most accurate standard is provided by the sales prices of...

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