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305 EAST 24TH OWNERS CORP. v. PARMAN CO.

122 A.D.2d 684 (1986)

305 East 24th Owners Corp. et al., Appellants, v. Parman Co. et al., Respondents. Parman Co. et al., Respondents, v. Anthony S. Niskanen et al., Appellants

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

August 14, 1986

The action was brought, inter alia, for breach of contract and specific performance to direct defendants to transfer to 305 East 24th Owners Corp. the sum of $578,650, as the reserve fund required by Administrative Code of the City of New York § YYYY51-3.0, known as Local Law No. 70 of City of New York, adopted October 14, 1982, effective February 1, 1983. Local Law No. 70 directs the establishment of a reserve fund...

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