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ANSONIA REALTY CO. v. ANSONIA ASSOCS.

142 A.D.2d 514 (1988)

Ansonia Realty Co., Respondent-Appellant, v. Ansonia Associates et al., Appellants-Respondents

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

July 7, 1988

Appellant Ansonia Associates, owner of the Ansonia Apartments on Broadway in Manhattan, entered into a contract to sell the building to respondent, Ansonia Realty Co., in October 1984. A down payment of $2,500,000 of the $41,000,000 purchase price was made upon signing of the contract. Approximately $18,100,000 was to be paid at the closing, at which time respondent was to assume a $20,400,000 mortgage on the premises held by Colonial...

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