Economy Holding Corp. v. Berry

The petitioner, Economy Holding Corporation, was the assignee of one Samuel Levine, one of its officers, who, on July 17, 1929, attended the auction sale conducted by the city of New York of a parcel of real property located at the southeast corner of Rivington and Allen streets in the borough of Manhattan, New York city, and who bid in said parcel for the price of $46,500. The parcel in question was not actually required for the physical improvement of Allen street, in which scheme of improvement various parcels of real estate had been acquired by the city. In connection with such auction…