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ARS INVESTORS II 2012-1 HVB, LLC v. BLACKMEADOW ROAD LLC

2211, 380686/11.

145 A.D.3d 543 (2016)

2016 NY Slip Op 08436

41 N.Y.S.3d 892

ARS INVESTORS II 2012-1 HVB, LLC, Respondent, v. BLACKMEADOW ROAD LLC et al., Appellants.

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

Decided December 15, 2016.

Plaintiff established prima facie through its expert's appraisal "the fair and reasonable market value of the mortgaged premises" (RPAPL 1371[2]; see White Knight NYC Ventures, LLC v 15 W. 17th St., LLC, 110 A.D.3d 576 [1st Dept 2013]). Defendants failed to establish that the highest and best use of the property was something other than the existing use, on which plaintiff's expert based his appraisal (see National Bank of N....

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