Trump-Equitable Fifth Avenue Co. v. Gliedman

OPINION OF THE COURT

Alexander, J.

Once again we are called upon to determine whether the Commissioner of the Department of Housing Preservation and Development properly denied the application of *488Trump-Equitable for an exemption from taxation, pursuant to section 421-a of the Real Property Tax Law, of its property located at 57th Street and Fifth Avenue in Manhattan. We hold that the denial of the exemption was neither arbitrary or capricious nor lacking a rational basis and therefore should be upheld.

Petitioner, the Trump-Equitable Fifth Avenue Company (Trump) is a joint venture which owns a…