City of New York v. L.J.W.P. Realty Co.

—Order unanimously modified on the law and as modified affirmed without costs in accordance with the following Memorandum: Following the sale of the property at issue in this appeal by a receiver in March 1999 for $8.2 million, Supreme Court properly directed the payment of $175,478.01 in counsel fees and $246,000 in broker’s fees. We conclude, however, that the receiver’s commission of $350,000 is excessive. “The authority for the receiver’s commission, CPLR 8004 (a), provides that the 5% is a maximum allowable fee but the receiver must earn his fee and it is his burden to demonstrate that…