Successful Appeal for Park Avenue Cooperative Client in Preferential Sale, Subletting Provisions Matter

Successfully argued in the Appellate Division, First Department that a Park Avenue cooperative client was not obligated to comply with preferential sale and subletting provisions afforded to “original purchasers” of the cooperative conversion under the offering plan and proprietary lease, notwithstanding that plaintiff-shareholder had relied on such preferential subletting provision when purchasing the apartment, and in subletting same for over 20 years.

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