Case Name: Stephen Korman, Respondent, v. Bayridge Air Rights, Inc., Appellant
Court: New York Supreme Court, Appellate Term
Jurisdiction: New York
Decision Date: 1983-11-16
Citations: 122 Misc. 2d 529
Docket Number: 
Parties: Stephen Korman, Respondent, v Bayridge Air Rights, Inc., Appellant.
Judges: 
Reporter: New York Miscellaneous Reports
Volume: 122
Pages: 529–530

Head Matter:
Stephen Korman, Respondent, v Bayridge Air Rights, Inc., Appellant.
Supreme Court, Appellate Term, Second Department,
November 16, 1983
APPEARANCES OF COUNSEL
Gallet & Dreyer (Deborah Lynn Davis of counsel), for appellant. Stephen Korman, respondent pro se.

Opinion:
opinion of the court
Memorandum.
Judgment unanimously reversed, without costs, and action dismissed.
In this small claims action, plaintiff, a shareholder in a Mitchell-Lama co-operative apartment project subject to the Private Housing Finance Law, sought to recover, upon the sale of his shares in the co-operative, a sum representing 100% of his share of the actual aggregate amortization of the first mortgage on the project from the date of his purchase of the shares to the date of resale. In awarding him said amount, the lower court ruled that section 31-a of the Private Housing Finance Law mandates the co-operative to return same to the shareholder. We disagree. A review of said section indicates that the co-operative need not return the full amount, or any amount for that matter (see Needleman v Amalgamated Warbasse Houses, 117 Misc 2d 220).
Accordingly, the judgment in favor of plaintiff must be reversed and the action dismissed.
Pino, P. J., Kirsch and Jones, JJ., concur.