New York Supreme Court December 8, 1976 (Teleon Realty Corp. v. City of New York)

Harold Baer, J.

This is an action for a declaratory judgment. The basic facts were stipulated and the controversy submitted under CPLR 3222. The parties seek an interpretation and declaration of their respective rights under section 421 of the Real Property Tax Law.

The plaintiffs assembled a plot on Fifth Avenue between 51st and 52nd Streets.