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TPZ CORP. v. BLOCK 7589 CORP.

233 A.D.2d 496 (1996)

650 N.Y.S.2d 299

TPZ Corporation, Respondent, v. Block 7589 Corp., Respondent, Vincent Parisi et al., Appellants, et al., Defendants

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

November 25, 1996

Ordered that the judgment is reversed, on the law, without costs or disbursements, and the matter is remitted to the Supreme Court, Richmond County, for a hearing on the issue of the fair and reasonable market value of the property as of the date of sale.

In June 1991 the plaintiff's predecessor in interest commenced an action to foreclose a mortgage dated December 1, 1989, in the principal amount of $315,000, held by it...

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