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MATTER OF MASPETH 5718 ASSOCIATES, INC. v. CITY OF NEW YORK

292 A.D.2d 453 (2002)

739 N.Y.S.2d 414

In the Matter of MASPETH 5718 ASSOCIATES, INC., Appellant, v. CITY OF NEW YORK et al., Respondents.

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

Decided March 11, 2002.

Ordered that the judgment is affirmed, with costs.

In a bill dated May 10, 1996, the New York City Department of Finance (hereinafter the DOF) informed the petitioner, Maspeth 5718 Associates, Inc. (hereinafter Maspeth), that it owed $580,058.54 in unpaid real property taxes and other charges for the subject property. To avoid the sale of the tax lien, Maspeth partially reduced its debt by requesting transfer of tax credits from four other properties in the amount...

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