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MATTER OF 50 W. 23RD ASSOCS. v. CITY OF NEW YORK DEP'T OF FIN.

160 A.D.2d 660 (1990)

In the Matter of 50 West 23rd Associates, Petitioner, v. City of New York Department of Finance et al., Respondents

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

April 26, 1990

This matter arises out of the transfer of the ownership of real property located at 48-62 West 23rd Street and 37-51 West 22nd Street. On June 14, 1982, one day before the scheduled closing, petitioner, the then-owner of the property, entered into an agreement with the prospective purchasers, Tengran Company and Seabank Group (the grantees). Pursuant to this agreement, six mortgages recorded against the property, aggregating $4...

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