PEOPLE'S UNITED BANK v. LAKEWOOD GARDENS, LLC

2014-00309

131 A.D.3d 521 (2015)

16 N.Y.S.3d 62

2015 NY Slip Op 06501

PEOPLE'S UNITED BANK, SUCCESSOR by Merger to THE BANK OF SMITHTOWN, Respondent, v. LAKEWOOD GARDENS, LLC, et al., Defendants, and ALEXANDER DeROSA, Appellant.

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

Decided August 12, 2015.


Ordered that the order is reversed, on the law, with costs, and the matter is remitted to the Supreme Court, Suffolk County, for a hearing to determine the fair and reasonable market value of the subject mortgaged premises as of the date of the foreclosure sale, and a new determination of the plaintiff's motion thereafter.

As the appellant correctly contends, the Supreme Court erred in determining the fair and reasonable market value of the mortgaged premises as of...

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