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SIMS v. DARWOOD MGMT., INC.

147 A.D.2d 373 (1989)

Randall T. Sims et al., Plaintiffs, v. Darwood Management, Inc., et al., Defendants. (Action No. 1.) E. Robert Quasman, Appellant-Respondent, v. Randall T. Sims et al., Respondents-Appellants, and 201 E. 77 Owners Corp. et al., Respondents. (Action No. 2.)

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

February 9, 1989

Defendants Randall and Donna Sims owned the shares and held the proprietary leases to apartments 9D and 9E at 201 East 77th Street. While the Simses occupied apartment 9D, they were designated by the sponsor as "holders of unsold shares" with respect to apartment 9E, which was occupied by a rent-stabilized tenant. Paragraph 38 (a) of the proprietary lease provides, in pertinent part, with respect to unsold shares: "[A]ll shares...

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