Basciano v. Tax Appeals Tribunal

Mikoll, J. P.

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.

Petitioner owned real property located in the Times Square area of Manhattan at 210-212 West 42nd Street. In connection with a redevelopment plan, the New York State Urban Development Corporation (hereinafter UDC) acquired this property by eminent domain by court order dated April 18, 1990. The amount of the condemnation award was not…