309 FIFTH OWNERS LLC v. MEPT 309 FIFTH AVE. LLC

309, 8841, 652383/15.

171 A.D.3d 407 (2019)

95 N.Y.S.3d 518

2019 NY Slip Op 02450

309 Fifth Owners LLC, Appellant, v. MEPT 309 Fifth Avenue LLC, Respondent.

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

Decided April 2, 2019.


Plaintiff alleges that defendant, obligated pursuant to the terms of a Purchase and Sale Agreement to prepare an appraisal of the subject property in the ordinary course of business, relied on an appraisal prepared for a related entity that was not prepared in the ordinary course of business, did not reflect market conditions, and was not consistent with good appraisal practice. Documents relating to the appraisal preparation and practices of the entities related to defendant...

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