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NEW YORK CITY ECONOMIC DEVELOPMENT CORPORATION v. CORN EXCHANGE LLC

405031/07, 5341, 5341A.

85 A.D.3d 545 (2011)

924 N.Y.S.2d 787

2011 NY Slip Op 5184

NEW YORK CITY ECONOMIC DEVELOPMENT CORPORATION, Respondent, v. CORN EXCHANGE LLC, Appellant.

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

Decided June 16, 2011.

Plaintiff established prima facie its right to recover from defendant the title to the subject premises. The terms of the deed required defendant to rehabilitate the property and construct on it a culinary institute, within a certain time period. The deed further provided that, in the event defendant failed to do so, the fee simple would revest in plaintiff. The deed created a condition subsequent for educational and public purposes...

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