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CADLEROCK JOINT VENTURE, L.P. v. BOARD OF MANAGERS OF THE PARKCHESTER SOUTH CONDOMINIUM, INC.

289 A.D.2d 1 (2001)

733 N.Y.S.2d 413

CADLEROCK JOINT VENTURE, L.P., Appellant-Respondent, v. BOARD OF MANAGERS OF THE PARKCHESTER SOUTH CONDOMINIUM, INC., Respondent-Appellant, et al., Defendants.

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

Decided December 4, 2001.

This appeal presents the issue of whether Cadlerock, the holder of a first mortgage of record on a condominium unit, may demand, during the pendency of a foreclosure action, that the tenant turn rent over to it. The IAS court correctly interpreted Real Property Law § 339-z to provide that it may, because "where a board of managers of a condominium hold a lien for unpaid common charges, such lien is inferior to a first mortgage of record," here, the mortgage held by Cadlerock...

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