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511 W. 232 v. JENNIFER REALTY

285 A.D.2d 244 (2001)

729 N.Y.S.2d 34

511 WEST 232ND OWNERS CORP. et al., Respondents-Appellants, v. JENNIFER REALTY CO. et al., Appellants-Respondents.

Appellate Division of the Supreme Court of the State of New York, First Department.

August 9, 2001.

Attorney(s) appearing for the Case

Beatrice Lesser of counsel (David L. Berkey and Stanley B. Dreyer on the brief; Gallet Dreyer & Berkey, L. L. P., attorneys), for respondents-appellants.

Mark N. Axinn of counsel (Bruce A. Langer on the brief; Brill & Meisel, attorneys), for appellants-respondents.

SULLIVAN, P. J., MAZZARELLI, ELLERIN and BUCKLEY, JJ., concur.

OPINION OF THE COURT

LERNER, J.

In this action to compel the sponsor of a cooperative conversion to sell unsold shares of cooperative units it has held for more than 10 years, we are called to decide the issue of whether the sponsor had a contractual duty to dispose of unsold units within a reasonable time. The record dictates that the question must be answered in the affirmative.

Plaintiffs are the cooperative corporation (co-op) that owns 511 West...

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