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COSTACOS v. SOUTHBRIDGE TOWERS, INC.

6993, 650718/17.

162 A.D.3d 588 (2018)

75 N.Y.S.3d 906

2018 NY Slip Op 04824

John Costacos, as Executor of the Estate of George Costacos Andrews, Deceased, Appellant, v. Southbridge Towers, Inc., Respondent.

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

Decided June 28, 2018.

Defendant is a housing corporation and previously organized and operating as a limited-profit housing company pursuant to the Mitchell-Lama Law (Private Housing Finance Law art II) from 1970 until at least September 10, 2015 when it completed the process of dissolution and reconstitution as a market-rate housing corporation no longer subject to the Mitchell-Lama Law. The offering plan defined shareholders who could exchange their shares in the dissolved limited-profit housing...

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