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FIRST NATIONWIDE BANK v. 965 AMSTERDAM, INC.

212 A.D.2d 469 (1995)

623 N.Y.S.2d 200

First Nationwide Bank, Appellant, v. 965 Amsterdam, Inc., Respondent, et al., Defendants

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

February 23, 1995

Defendant 965 Amsterdam, Inc. acquired the subject premises as the assignee of co-defendant Amsterdam Realty Associates, the purchaser under a contract of sale from co-defendant Cornelia Associates dated June 12, 1986. The purchase by 965 Amsterdam was facilitated by pre-approved and pre-packaged financing brokered by Gelt Funding Corp. and underwritten by plaintiff First Nationwide Bank. The bank extended a non-recourse, first-mortgage loan under a consolidation, modification...

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