Plaza Hotel Associates v. Wellington Associates, Inc.

Order and judgment (one paper) of Supreme Court, New York County, entered March 2, 1973, inter alia, declaring the value of certain land as of October 1, 1965, to be $18,500,000, unanimously modified, on the law and on the facts, to the extent of reducing the value of such land to $11,500,000, and otherwise affirmed, without costs or disbursements. After the original appraisal of the land in issue was set aside because of the failure of the appraisers to use the correct date and to value the land as restricted to lease uses (Plaza Hotel Assoc, v. Wellington Assoc., 55 Mise 2d 483, affd. 28 A…