Opinion
November 17, 1997
Appeal from the Supreme Court, Rockland County (Sherwood, J.).
Ordered that the order is affirmed, with costs.
It is well settled that a court, in the exercise of its equitable powers, has the discretion to set aside a judicial sale where fraud, collusion, mistake, or misconduct casts suspicion on the fairness of the sale ( see, Guardian Loan Co. v. Early, 47 N.Y.2d 515, 521; Bankers Fed. Sav. Loan Assn. v. House, 182 A.D.2d 602; Harbert Offset Corp. v. Bowery Sav. Bank, 174 A.D.2d 650). We find that no such acts occurred here justifying interference with this sale. It is equally well established that in the absence of that type of conduct, the mere inadequacy of the price alone is an insufficient reason to vacate an otherwise fair judicial sale, unless the price is so inadequate as to shock the conscience of the court ( see, Harbert Offset Corp. v. Bowery Sav. Bank, supra, at 650; Glenville 110 Corp. v. Tortora, 137 A.D.2d 654). The sale price here which was equivalent to the mortgage balance plus sale expenses ( see generally, Polish Natl. Alliance v. White Eagle Hall Co., 98 A.D.2d 400, 407-408), was over 50% of the defendants' appraised value of the property, and was not so unconscionably low so as to warrant vacatur of the sale.
Miller, J. P., Ritter, Sullivan, Santucci and McGinity, JJ., concur.