Iveli v. Tax Appeals Tribunal

— Weiss, J.

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 a real property transfer gains tax assessment imposed under Tax Law article 31-B.

On March 30, 1982, petitioners acquired two contiguous parcels of real property in Manhattan from a common grantor via separate deeds for each parcel. The purchase price was $125,000 per parcel, and separate purchase-money mortgages of $100,000 were held by the grantor. Although contiguous, the properties were physically separate and…