Plaintiff, the proprietary lessee and holder of unsold shares to two apartments purchased from the sponsor located a subtenant willing to lease one of the apartments at the market rate, but the Board of Directors approved the subtenant only on condition that the rent not exceed the maintenance plus a 20% surcharge, together with a $1,000 deposit. In this action for declaratory judgment and other relief the IAS court granted plaintiff's motion, finding plaintiff to be the...
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