Lane Bryant, Inc. v. Tax Commission

Final order, entered on or about *670March 15, 1961, reducing assessments on real property for the tax years 1958-59, 1959-60 and 1960-61, unanimously reversed, on the law and the facts, the assessments reinstated, and the petition dismissed, with costs of the proceeding and the appeal to respondent-appellant. The 1958 sale of the property for $3.2 million cash, coneededly at arm’s length, is the outstanding factor in support of the assessments. While it is true that the prior judicial determinations are influential in determining value, this is so only as to the facts existent at or prior to…