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IN RE DELAFIELD 246 CORP.

Bankruptcy No. 05-13634 (ALG), Adversary No. 05-01834 (ALG).

368 B.R. 285 (2007)

In re DELAFIELD 246 CORP., Debtor. Delafield 246 Corp., Plaintiff, v. The City of New York, et al., Defendants.

United States Bankruptcy Court, S.D. New York.

April 25, 2007.

Attorney(s) appearing for the Case

Law Office Of Steven Cohn, P.C. by Daniel A. Zimmerman, Esq., Carle Place, NY, Counsel for Delafield Corp.

New York City Law Department, by Hugh H. Shull, III, Esq., Lawrence Jay Brenner, Esq., Lonica L. Smith, Esq., New York, NY, Counsel for the City of New York.

Ochs & Goldberg, LLP by Martin P. Ochs, Esq., New York, NY, Counsel for NYCTL 2005-A Trust.

Robinson Brog Leinwand Greene Genovese & Gluck, P.C. by Christine H. Black, Esq., New York, NY, Counsel for Delafield Homeowners Association, Inc.

MEMORANDUM OF OPINION

ALLAN L. GROPPER, Bankruptcy Judge.

The Debtor is a single asset real estate corporation that owns 24 out of 33 lots (22 of which are unimproved) that comprise a development in Riverdale, New York known as Delafield Estates. Delafield Estates initially included the Delafield Mansion (since destroyed by fire) and other property that was restricted as to site management, preservation and restoration. As early as 1980 a Delafield Estates...

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