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SCHULTZ v. 400 COOP. CORP.

292 A.D.2d 16 (2002)

736 N.Y.S.2d 9

CAROL SCHULTZ et al., Respondents, v. 400 COOPERATIVE CORPORATION, Now Known as 400 OWNERS CORPORATION, Appellant.

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

January 8, 2002.

Attorney(s) appearing for the Case

Candace Reid Gladston of counsel (Thomas J. McNamara on the brief; Certilman Balin Adler & Hyman, LLP, attorneys), for respondents.

Eric B. Levine of counsel (Wolf Haldenstein Adler Freeman & Herz LLP, attorneys), for appellant.

NARDELLI, J.P., MAZZARELLI, ANDRIAS and ELLERIN, JJ., concur.

OPINION OF THE COURT

RUBIN, J.

This dispute concerns the valuation of a cooperative apartment unit, as reflected by the number of shares in defendant cooperative corporation allocated to the premises. The underlying agreements were all concluded by December 1986 and did not become an obvious point of contention until 1996, when plaintiffs sought legal redress for the alleged overvaluation of their cooperative unit. Although asserted as an action for reformation...

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