DALE MORTGAGE BANKERS CORP. v. 877 STEWART AVE. ASSOCS.


133 A.D.2d 65 (1987)

Dale Mortgage Bankers Corp., Respondent, v. 877 Stewart Avenue Associates, Appellant

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

August 3, 1987


Ordered that the order and judgment is reversed, on the law, with costs, the motion for summary judgment is denied, the cross application for summary judgment is granted, and the complaint is dismissed.

On October 20, 1986, the plaintiff and the defendant entered into a written agreement whereby the defendant was to build a commercial condominium unit and then convey it to the plaintiff for a purchase price of $3,820,000. The contract provided for a down payment of...

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