Beekwill Realty Corp. v. City of New York

The fee of the real property of which plaintiff is now the owner was acquired by the city of New York for rapid transit purposes and thereafter it was declared exempt from taxation. In the year 1920 the Transit Construction Commission certified that, except for a particularly described easement and right of way to be reserved by the city, it was no longer needed for transit purposes and the Commissioners of the Sinking Fund authorized its sale subject to that described easement. On October 28, 1926, it was bid in at auction by plaintiff’s assignor and was afterward conveyed to plaintiff…