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MAROSU v. COMMUNITY PRESERV.

26 A.D.3d 74 (2005)

808 N.Y.S.2d 628

MAROSU REALTY CORPORATION, Respondent, v. THE COMMUNITY PRESERVATION CORPORATION et al., Appellants.

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

December 22, 2005.

Attorney(s) appearing for the Case

Certilman Balin Adler & Hyman, LLP, East Meadow (Edward G. McCabe of counsel), for Community Preservation Corporation, appellant.

Michael A. Cardozo, Corporation Counsel, New York City (Julian L. Kalkstein and Larry A. Sonnenshein of counsel), for City of New York, appellant.

Hartman & Craven LLP, New York City (Stewart Louie and Edward L. Schiff of counsel), for Marosu Realty Corporation, respondent.

BUCKLEY, P.J., ELLERIN, CATTERSON and McGUIRE, JJ., concur.

OPINION OF THE COURT

MAZZARELLI, J.

Plaintiff obtained funds from defendants to purchase and rehabilitate a building at 560 West 144th Street through the Participation Loan Program (PLP). One of the defendants, the Community Preservation Corporation (CPC), a nonprofit corporation, had been created in 1974 to combat the deterioration and abandonment of housing in New York City. It specialized in coordinating...

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