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ASPRO CONTR. v. FLEET BANK

1 N.Y.3d 324 (2004)

805 N.E.2d 1037

773 N.Y.S.2d 735

ASPRO MECHANICAL CONTRACTING, INC., et al., Respondents, v. FLEET BANK, N.A., Appellant.

Court of Appeals of the State of New York.

Decided February 12, 2004.

Attorney(s) appearing for the Case

Cleary, Gottlieb, Steen & Hamilton, New York City (Evan A. Davis, Mitchell A. Lowenthal and Rupa Mitra of counsel), for appellant.

Zisholtz & Zisholtz, LLP, Mineola (Stuart S. Zisholtz of counsel), for respondents.

Chief Judge KAYE and Judges G.B. SMITH, CIPARICK, ROSENBLATT and READ concur; Judge R.S. SMITH taking no part.

OPINION OF THE COURT

GRAFFEO, J.

In 1989, Berry Street Corporation entered into a turnkey contract of sale with the New York City Housing Authority (NYCHA) whereby Berry Street would acquire title to three parcels of land in Brooklyn, construct residential buildings on the parcels and convey title to the improved property to NYCHA. The contract specified periodic payments from NYCHA to Berry Street and its...

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