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  5. 80 N.Y.2d 777 (1992)
 

BAYRIDGE AIR RIGHTS, INC. v. BLITMAN CONSTR. CORP.

80 N.Y.2d 777 (1992)

Bayridge Air Rights, Inc., Appellant, v. Blitman Construction Corp. et al., Respondents and Third-Party Plaintiffs-Respondents. Serge Elevator Co., Inc., et al., Third-Party Defendants-Respondents.

Court of Appeals of the State of New York.

Decided June 4, 1992.

Attorney(s) appearing for the Case

David L. Berkey, Gerald M. Levine, Didi M. Skaff and Stewart E. Wurtzel for appellant.

Arthur S. Friedman, Laurie R. Josephs and Joan R. Salzman for respondents and third-party plaintiffs-respondents.

Kevin J. O'Neill for DiStasio & VanBuren, Inc., third-party defendant-respondent.

Denis B. Frind and Frank Napolitano for AFGO Engineering Corp. and another, third-party defendants-respondents.

Michael K. Stanton for Atlantic Hardware & Supply Corp., third-party defendant-respondent.

Stuart F. Gruskin, Kenneth G. Schwarz and Deborah J. Locitzer for Kenvil Newcrete Products, Inc., third-party defendant-respondent.

Theodore H. Rosenblatt for Prince Carpentry, Inc., third-party defendant-respondent.

Jeffrey A. Aronson and James M. Dennis for Underhill Construction Corp., third-party defendant-respondent.

Judges SIMONS, KAYE, TITONE, HANCOCK, JR., and BELLACOSA concur; Chief Judge WACHTLER taking no part.

MEMORANDUM.

The order of the Appellate Division should be affirmed, with costs.

Plaintiff, a developer, contracted with defendant Blitman Construction Corporation to construct a cooperative apartment complex in Brooklyn. Physical construction of the complex was substantially completed in April 1972.

Four years later, in 1976, plaintiff, Blitman and the building's shareholders entered into an agreement to transfer...

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