Summary
In Matterof 5 East 71st St. v. Boyland (7 N.Y.2d 859, 860-861) the memorandum of affirmance stated: "In so deciding, we do not find that the Official Referee erred in refusing to give weight to the 1948 sale to the co-operative corporation or to the separate sales to its tenant purchasers. It is sufficient to say that evidence of the original cost of the land and building in 1946 plus evidence of the sharp increase in value since that time are enough to sustain the assessed valuations."
Summary of this case from Matter of 860 Fifth Ave. Corp. v. Tax CommOpinion
Argued October 19, 1959
Decided December 30, 1959
Appeal from the Appellate Division of the Supreme Court in the First Judicial Department, EUGENE L. BRISACH, Off. Ref.
Stephen W. Hanley and Aaron H. Shaffer for appellant.
Charles H. Tenney, Corporation Counsel ( Morris Einhorn and Morris Handel of counsel), for respondents.
Order affirmed, without costs. In so deciding, we do not find that the Official Referee erred in refusing to give weight to the 1948 sale to the co-operative corporation or to the separate sales to its tenant purchasers. It is sufficient to say that evidence of the original cost of the land and building in 1946 plus evidence of the sharp increase in values since that time are enough to sustain the assessed valuations. No opinion.
Concur: Chief Judge CONWAY and Judges DESMOND, DYE, FULD, FROESSEL, VAN VOORHIS and BURKE.