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LEX TENANTS CORP. v. GRAMERCY NORTH ASSOCS.

244 A.D.2d 199 (1997)

664 N.Y.S.2d 16

Lex Tenants Corp., Appellant, v. Gramercy North Associates et al., Respondents. (And a Third-Party Action.)

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

November 13, 1997

The offering plan to the cooperative conversion provided that the sponsor would, at its own expense, make an application for Real Property Tax Law § 421-a tax exemption benefits that "may be available". The sponsor did submit an application for those benefits and, when they were refused, resorted to legal action (see, Matter of Gramercy N. Assocs. v Biderman, 169 A.D.2d 345, lv denied 78 N.Y.2d 863). Therefore...

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