Printer Friendly

'Power center' meets changing demand.


Court Grants Injunction After Eviction By |Brute Force'

Plaintiff Alleged that defendants had evicted him from the subject premises without benefit of court proceedings and moved to enjoin defendants from using or assigning the premises pending resolution of the action. The court granted the injunction, holding that even if the plaintiff's license had expired, as alleged by the defendants, plaintiff could not be evicted by "brute force" and without a court hearing.

* Kwon v. Lu, Supreme Court, IA Part 49, Justice H. Cahn.

New York Law Journal

Foreign Buyers Pushing Up Condo Prices

While the values of most apartments have stabilized or are still falling in New York City, those pied-a-terre along Manhattan's most elegant streets continue to climb, with well-heeled foreign investors setting new price records for high-end condominiums, real-estate studies shows.

Most of the buyers, many of whom are seeking that fourth home or refuge from tumultuous times in their own countries, continue to pour cash into a sliver of New York's vast residential real-estate market--expensive condos. They are bidding up prices along the city's "Gold Coast" avenues while the values of cooperative apartments are stabilizing or still declining.

For example, and investor from Hong Kong, possibly jittery over what may happen when Britain turns that city over to the Chinese Government, has been negotiating to buy 47 condominiums--or 6 floors --in Trump Palace, at 200 East 69th Street at Third Avenue.

One buyer paid $2 million in September for a four-and-a-half-room condominium at Trump Tower that sold for $1.62 million just five years ago, while another buyer paid $2.57 million for a four-and-a-half-room condo at 30 East 85th Street.

The New York Times

Rent Demand Can Be Made By Landlord's Attorney

Respondent Tenant moved to vacate petitioner's default judgment for eviction and unpaid rent and to dismiss the underlying action on the ground that the rent demand was not properly made and should not have come from petitioner's attorney. The court held that the demand could be sent by petitioner's attorney absent a contrary term of the lease. The court ordered a traverse hearing to resolve adequacy of the demand.

* Chinn V Plastino, Civil Court, Housing Part, Judge R. Braun.

New York Law Journal

Board's Election Is Null And Void Because Of Lack Of Quorum

Plaintiff prior cooperative board of directors brought and action contesting its dissolution by defendant new board of directors, alleging that the dissolution and election had been held without proper notice or a quorum. The court held that a quorum was not present at the dissolution meeting and therefore the removal of the previous board was improper and the election of the new members was null and void.

* Bell v. Allen, Supreme Court, IA Part 18, Justice D. Saxe.

New York Law Journal
COPYRIGHT 1991 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Polimeni Enterprises Inc.; power shopping centers
Author:Fitzgerald, Therese
Publication:Real Estate Weekly
Article Type:company profile
Date:Oct 30, 1991
Previous Article:Hotel Regent tops out.
Next Article:It's not easy to sell a haunted house.

Related Articles
Reducing management costs by recycling.
Retail forecast: only the strong will survive.
Renovated strip shopping centers compete in retail market.
Creativity is watchword for power center developers in '98.
New office construction studied in Nassau County.
Kalikow, Polimeni purchase Garden City office property.
JEMB joins industry in taking telecom act to the Javits Center.
Nassau County Center: Life-saver or dream?
Kalikow sells shopping center.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters