Thanks for visiting! Welcome to a new way to research case law. You are viewing a free summary from Descrybe.ai. For citation and good law / bad law checking, legal issue analysis, and other advanced tools, explore our Legal Research Toolkit — not free, but close.
State Street Bank & Trust Co. v. Silbershatz
Citations: 251 A.D.2d 114; 674 N.Y.S.2d 40; 1998 N.Y. App. Div. LEXIS 6669
Court: Appellate Division of the Supreme Court of the State of New York; June 11, 1998; New York; State Appellate Court
The Supreme Court of New York County, presided over by Justice Helen Freedman, issued an order on December 15, 1997, in a foreclosure action involving Unit 12C at the Museum Tower Condominium. The court unanimously affirmed the denial of the plaintiff's motion to set aside the sale of the adjacent Unit 12J to 12J Equities, without costs. The court found that the plaintiff, a bank foreclosing on Unit 12C, failed to demonstrate a reasonable basis for relying on alleged representations by the buyers of both units that the sales would be treated as a single transaction. The plaintiff was aware that the units were to be sold separately, as its attorneys had prepared the necessary documentation and notified potential buyers of the separate sales. Despite the practical implications of this separation, the plaintiff had chosen to proceed with the foreclosure on this basis, thus negating any claims of being misled by the buyers. Additionally, the court noted that the plaintiff had an adequate legal remedy available, particularly regarding issues with Krispha Realty Corporation's reluctance to finalize the sale of Unit 12C, which could be addressed through a breach of contract claim. The decision was supported by Justices Milonas, Ellerin, Williams, Tom, and Mazzarelli.