Plaintiffs were partners in East 85th Street Company when it began to convert the building it owned at 411 East 53rd Street to condominium ownership. The conversion was completed in 1986, at which time plaintiffs acquired title to 16 unsold units in the newly formed condominium.
In November 1987, the condominium held its first board elections. Pursuant to section 2.7 of the condominium bylaws, plaintiff Barton Mark Perlbinder (Perlbinder) was designated by the sponsors...
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