VALYRAKIS v. 346 W. 48TH ST. HOUS. DEV. FUND CORP.

6242, 152111/16.

161 A.D.3d 404 (2018)

76 N.Y.S.3d 523

2018 NY Slip Op 03098

Yorgo Valyrakis et al., Appellants, v. 346 West 48th Street Housing Development Fund Corporation et al., Respondents.

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

Decided May 1, 2018.


This is a dispute among the shareholders of defendant 346 West 48th Street Housing Development Fund Corporation (the corporation), a low-income cooperative. Each apartment, according to the offering plan, was allocated an equal number of shares, regardless of its size. In 1995, defendant Gina Georgiou and her daughter, who held the proprietary lease to apartment 5W (and the 250 shares appurtenant thereto), acquired apartment 5E (and the 250 shares appurtenant thereto) as...

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