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IN THE MATTER OF BALK v. 125 WEST 92ND STREET CORPORATION

24 A.D.3d 194 (2005)

805 N.Y.S.2d 352

In the Matter of LEO BALK, Appellant-Respondent, v. 125 WEST 92ND STREET CORPORATION, Respondent-Appellant.

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

December 8, 2005.

Petitioner remained in occupancy of the subject apartment from January 15, 2004, the date of valuation of his shares, to November 5, 2004, when petitioner was paid the principal amount of $825,000 for the shares (the valuation period). We are satisfied that equity was accomplished by a "closing adjustment" that did not award petitioner any interest on the $825,000 but also did not award respondent any use and occupancy over and...

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