GOODSTEIN v. GOODSTEIN BROS. & CO., INC.


204 A.D.2d 231 (1994)

613 N.Y.S.2d 1

Robert Goodstein et al., Appellants, v. Goodstein Bros. & Co., Inc., et al., Respondents, et al., Defendants

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

May 26, 1994


The plaintiffs do not dispute that the Management Agreement, governing the family business of managing an eleven-floor office building in Manhattan, bars the partition they seek if its provisions for restricting transfer of ownership are valid. These provisions do not violate the rule against perpetuities (see, EPTL 9-1.1) because the ongoing management of a multi-tenant office building in New York City is the type of modern...

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