Fifth Avenue Bank v. Edgerton Park Co.

Appellate Division of the Supreme Court of New York

Fifth Avenue Bank v. Edgerton Park Co.

262 A.D. 713, 27 N.Y.S.2d 277

Appellate Division of the Supreme Court of the State of New York·Decided May 9, 1941·Published

Opinion

Per Curiam.

In the circumstances of this case, the valuation of the vacant plot should not have been fixed at $12,000, which was $4,000 below the assessed valuation for the year 1937. We think that the fair and reasonable market value of the mortgaged premises as of the date of sale was $95,000 for the improved comer parcel and $16,000 for the vacant lot, or a total of $111,000.

The judgment and order should accordingly be modified by reducing the amount of the deficiency by the sum of $4,000, with interest from March 24, 1937, and as so modified affirmed, with costs to appellants.

Present — O’Malley, Townley, Glennon, Untermyer and Cohn, JJ.; O’Malley and Untermyer, JJ., dissent and vote to affirm.

Judgment and order modified by reducing the amount of the deficiency by the sum of $4,000, with interest from March 24, 1937, and as so modified affirmed, with costs to the appellants. Settle order on notice.

Free access — add to your briefcase to read the full text and ask questions with AI

Per Curiam.

In the circumstances of this case, the valuation of the vacant plot should not have been fixed at $12,000, which was $4,000 below the assessed valuation for the year 1937. We think that the fair and reasonable market value of the mortgaged premises as of the date of sale was $95,000 for the improved comer parcel and $16,000 for the vacant lot, or a total of $111,000.

The judgment and order should accordingly be modified by reducing the amount of the deficiency by the sum of $4,000, with interest from March 24, 1937, and as so modified affirmed, with costs to appellants.

Present — O’Malley, Townley, Glennon, Untermyer and Cohn, JJ.; O’Malley and Untermyer, JJ., dissent and vote to affirm.

Judgment and order modified by reducing the amount of the deficiency by the sum of $4,000, with interest from March 24, 1937, and as so modified affirmed, with costs to the appellants. Settle order on notice.

Fifth Avenue Bank v. Edgerton Park Co., 262 A.D. 713, 27 N.Y.S.2d 277 (N.Y. Ct. App. 1941).

Pincite

262 A.D. 713 (Fifth Avenue Bank v. Edgerton Park Co.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.