Petitioner is the owner of real property located at 187-195 Hudson Street in New York City. In 1990, petitioner entered into an agreement whereby he leased the property for the period July 16, 1990 through May 31, 2039 at an annual rent of $490,000 and, for additional consideration of $499,990, granted an option to purchase the property, exercisable on July 1, 1995. It is undisputed that the transaction resulted in a taxable gain of $3,909...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
