Opinion
01-19-2017
EAST FORDHAM DE LLC, Plaintiff–Respondent, v. U.S. BANK NATIONAL ASSOCIATION, as Trustee, as Successor in Interest to Bank of America, N.A., etc., et al., Defendants–Appellants.
Kilpatrick Townsend & Stockton LLP, New York (Ian M. Goldrich of counsel), for appellants. Oquendo Deraco PLLC, New York (Ricardo E. Oquendo of counsel), for respondent.
Kilpatrick Townsend & Stockton LLP, New York (Ian M. Goldrich of counsel), for appellants.
Oquendo Deraco PLLC, New York (Ricardo E. Oquendo of counsel), for respondent.
Order, Supreme Court, Bronx County (John A. Barone, J.), entered on or about August 12, 2015, which, inter alia, directed defendants to close on the subject refinancing transaction based upon the value of the property as established by the parties' completed appraisals, unanimously reversed, on the law, without costs, and the order vacated.
In deciding plaintiff's motion for a preliminary injunction, the court erred in reaching a determination on the merits of the ultimate relief sought (see Residential Bd. of Mgrs. of Columbia Condominium v. Alden, 178 A.D.2d 121, 576 N.Y.S.2d 859 [1st Dept.1991] ). Issues of fact exist, including whether defendants waived their right to contest the method used by the parties' appraisers to determine the value of the property.
ANDRIAS, J.P., SAXE, FEINMAN, GISCHE, KAHN, JJ., concur.