Chatham Towers, Inc. v. Estate of Tom

*891OPINION OF THE COURT

Beverly S. Cohen, J.

In this declaratory judgment action, Chatham Towers, a private residential cooperative (the Coop), seeks a summary judgment declaration with respect to defendants’ respective rights to certain Coop shares of stock allocable to apartment 12E of Towers I located at 170 Park Row in lower Manhattan (the Apartment).

The Coop was originally organized as a redevelopment corporation under what is currently article 5 of the Private Housing Finance Law of the State of New York. In late 1990, the Coop became private, no longer subject to the Private Housing Finance…