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IN RE 68 WEST 127 STREET, LLC

No. 02-42060 (RDD).

285 B.R. 838 (2002)

In re 68 WEST 127 STREET, LLC, Debtor.

United States Bankruptcy Court, S.D. New York.

November 19, 2002.

Attorney(s) appearing for the Case

Carus & Manniello, P.C., by Barry R. Carus, Syosset, NY, for The Bank of New York, as Trustee.

Coritsidis & Lambros, PLLC, by Michael N. Coritsidis, New York City, for the Debtor.

MEMORANDUM OPINION ON MOTION OF THE BANK OF NEW YORK, AS TRUSTEE FOR RELIEF FROM THE AUTOMATIC STAY

ROBERT D. DRAIN, Bankruptcy Judge.

The debtor and debtor in possession ("Debtor") filed its chapter 11 petition on the morning of the day that its only asset, an empty, derelict residential building in Harlem, was scheduled to be sold at judicial foreclosure. The Bank of New York, as Trustee ("BONY"), requested relief from the automatic stay under section...

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