OSTROVSKY v. CARTIER APARTMENTS OWNERS CORP.


247 A.D.2d 598 (1998)

669 N.Y.S.2d 352

Oleg Ostrovsky et al., Appellants, v. Cartier Apartments Owners Corp., Respondent

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

February 23, 1998


Ordered that the order is affirmed, with costs.

Under the terms of the loan agreement executed by the plaintiffs and the defendant at the time the plaintiffs purchased their cooperative apartment, the plaintiffs were not required to repay their loan until they had received notice from the defendant that 50% or more of the apartments in the cooperative building were owned by "tenant-shareholders". While admitting that they received notice that 76% of the apartments...

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