Haubeck Realty Corp. v. Tax Appeals Tribunal

Mercure, J. P.

Proceeding pursuant to CPLR article 78 (initiated in this Court pursuant to Tax Law § 2016) to review a determination of respondent Tax Appeals Tribunal which sustained an assessment of real property transfer gains tax imposed under Tax Law former article 31-B.

Petitioners are nominees of Di Lorenzo Property Company, former owner of the seven New York City properties that are the subject of this proceeding. Each of the properties was sold in 1995 and was subject to a 90-year lease entered into in September 1981, prior to the March 28, 1983 effective date of Tax Law former article…