Park Ten Associates v. City of New York Department of Finance

OPINION OF THE COURT

Milonas, J.

Petitioner Park Ten Associates appeals from a final determination of respondent Commissioner of Finance, Department of Finance of the City of New York, assessing a tax deficiency against petitioner under the New York City Real Property Transfer Tax Law in the principal amount of $164,544 plus interest and penalty of $127,955.45 for a total of $292,499.45. The proceeding was transferred to this court pursuant to an order of the Supreme Court, New York County (Harold Baer, J.), entered on March 23, 1987.

This matter arises out of the transfer on May 1, 1981 of…