Petitioners as sponsors of the cooperative conversion of a residential apartment building at 157 East 81st Street in New York County, submitted a proposed offering plan to the Attorney-General on February 24, 1989. The Department of Law ultimately rejected the plan for filing on the basis that it could not determine that there were not excessive long-term vacancies as required by General Business Law § 352-eeee (2) (e). While the number of dwelling units in the building...
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