Kips Bays Towers Condominium v. Commissioner of Finance

Appellate Division of the Supreme Court of New York

Kips Bays Towers Condominium v. Commissioner of Finance

66 A.D.2d 506, 885 N.Y.S.2d 904

CourtAppellate Division of the Supreme Court of the State of New York

DecidedOctober 15, 2009

StatusPublished

This text of 66 A.D.2d 506 (Kips Bays Towers Condominium v. Commissioner of Finance) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Kips Bays Towers Condominium v. Commissioner of Finance, 66 A.D.2d 506, 885 N.Y.S.2d 904 (N.Y. Ct. App. 2009).

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Opinion

Order, Supreme Court, New York County (Jane S. Solomon, J.), entered September 23, 2008, which, to the extent appealed from as limited by the brief, confirmed the assessed valuation of the subject property for the tax years 1997/1998, 1998/ 1999, 1999/2000, 2002/2003 and 2003/2004, unanimously affirmed, without costs.

The assessed valuations confirmed by the court were within [507]*507the range of the trial evidence (see Matter of Bass v Tax Commn. of City of N.Y., 179 AD2d 387, 388 [1992], lv denied 80 NY2d 751 [1992]). The court’s determination that the actual rents for the unsold condominium apartments, which both parties’ expert appraisers agreed were below market rents, were an inappropriate component of valuation of the property was not against the weight of the evidence or contrary to law (see Matter of Merrick Holding Corp. v Board of Assessors of County of Nassau, 45 NY2d 538, 543 [1978]). Nor is there any basis to disturb the court’s factual findings with respect to income, expenses and capitalization rates. Concur—Gonzalez, P.J., Friedman, Moskowitz and Renwick, JJ.

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Order, Supreme Court, New York County (Jane S. Solomon, J.), entered September 23, 2008, which, to the extent appealed from as limited by the brief, confirmed the assessed valuation of the subject property for the tax years 1997/1998, 1998/ 1999, 1999/2000, 2002/2003 and 2003/2004, unanimously affirmed, without costs.

The assessed valuations confirmed by the court were within [507]*507the range of the trial evidence (see Matter of Bass v Tax Commn. of City of N.Y., 179 AD2d 387, 388 [1992], lv denied 80 NY2d 751 [1992]). The court’s determination that the actual rents for the unsold condominium apartments, which both parties’ expert appraisers agreed were below market rents, were an inappropriate component of valuation of the property was not against the weight of the evidence or contrary to law (see Matter of Merrick Holding Corp. v Board of Assessors of County of Nassau, 45 NY2d 538, 543 [1978]). Nor is there any basis to disturb the court’s factual findings with respect to income, expenses and capitalization rates. Concur—Gonzalez, P.J., Friedman, Moskowitz and Renwick, JJ.

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Bluebook (online)

66 A.D.2d 506, 885 N.Y.S.2d 904, Counsel Stack Legal Research, https://law.counselstack.com/opinion/kips-bays-towers-condominium-v-commissioner-of-finance-nyappdiv-2009.

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