SAVASTA v. 470 NEWPORT ASSOCS.


82 N.Y.2d 763 (1993)

623 N.E.2d 1171

603 N.Y.S.2d 821

John Savasta et al., Appellants, v. 470 Newport Associates et al., Respondents.

Court of Appeals of the State of New York.

Decided October 7, 1993.


Attorney(s) appearing for the Case

Leonard W. Wagman, New York City, and Snow Becker Krauss P. C., New York City (Geri S. Krauss of counsel), for appellants.

Bleakley Platt & Schmidt, White Plains (Timothy P. Coon of counsel), for respondents.

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


MEMORANDUM.

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

Plaintiffs' predecessors in interest sold a property containing two apartment buildings to defendant general partnership and took back a mortgage. Subsequently, the general partnership had difficulty in making its mortgage payments to plaintiffs. For consenting to the refinancing of the mortgage, plaintiffs were made limited partners with...

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