Smit v. Lexington Madison Co.

Plaintiffs are 12 tenants of 114 East 72nd Street, who seek a preliminary injunction enjoining the sale of the building to 114 Tenants Corp., a co-operative corporation. The closing, scheduled for June 28,1972, has been stayed by consent of the parties until the determination of this motion.

Plaintiffs are tenants of the building, but have not purchased their apartments under the plan of co-operative organization. Their petition alleges nine distinct bases for the relief sought, namely:

1. False statements made by the two real estate agents to induce purchases by tenants ;

2. Failure to declare…