Cleveland Mun. School Dist. Bd. of Edn. v. Cuyahoga Cty. Bd. of Revision

{¶ 1} Appellant, Vlaxos, L.L.C. (“Vlaxos”), contends that the price it paid for certain real property was the result of economic duress and, therefore, the sale was not an arm’s-length sale. We disagree and, therefore, affirm the decision of the Board of Tax Appeals (“BTA”).

{¶ 2} The property involved in this case, located in the Grand Arcade at 408 and 500 West St. Clair Avenue in Cleveland, consists of two condominium parcels, known as units 101 and 102, which house the Greek Isles Restaurant. The property was purchased by Vlaxos in December 2000 for $1,350,000. The Board of Education of…