Ordered that the judgment is affirmed insofar as appealed from, with costs.
The parties' contract provided that payments due and unpaid shall bear interest at the rate stated therein, or, in the absence thereof, "at the legal rate prevailing from time to time at the place where the Project is located," and no rate was stated therein. Therefore, the Supreme Court properly applied the statutory rate set forth in CPLR 5004 (see, CPLR 5001 [a]; Levy, King &...
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