Posted by Mark Smith on May 31, 1999 at 02:52:46:
In Reply to: Re: New Rulings On Tenants Of Sponsor - continued posted by Mark Smith on May 31, 1999 at 02:49:49:
A similar conclusion was reached by Judge Bruce M. Kramer in Manhattan in a decision issued on May 12. In that case, Judge Kramer pointed out that there was no evidence of any legislative intent to provide Martin Act protection to tenants who rent sponsor-owned apartments subsequent to the conversion of the building.
Mr. Miller, the Queens lawyer, said that given the clear language of the statute, as pointed out by Judges Franke and Kramer, it was unlikely that either case would be overturned on appeal.
Moreover, he said, while the original Paikoff case is currently being appealed, it likely that the appellate court will overturn it for the same reason.
"Basically, we're back where we started," Mr. Miller said. "And that's good news for co-ops and condominiums."
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