P.K. Development, Inc. v. Elvem Development Corp.

Order, Supreme Court, New York County (Richard B. Lowe, III, J.), entered January 6, 1995, which granted defendant’s motion for summary judgment to rescind the contract between the parties, and denied plaintiff’s cross-motion for summary judgment, unanimously reversed, on the law, with costs, defendant’s motion for summary judgment is denied and plaintiff’s cross-motion for summary judgment for breach of contract is granted.

This dispute concerns a contract for sale of a residential cooperative unit between plaintiff, a corporation that buys, owns and resells such units, and defendant…