397 West 12th Street Corp. v. Zupa
Opinion of the Court
Judgment, Supreme Court, New York County (Sherry Klein Heitler, J.), entered June 22, 2006, dismissing all claims, counterclaims and cross claims in this action and cancelling notices of pendency filed by defendant Madison Capital Acquisitions, unanimously modified, on the law, to the extent of declaring that plaintiff properly exercised its right of first refusal, and otherwise affirmed, with costs in favor of plaintiff payable by defendants-appellants. Appeal from the underlying order, same court and Justice, entered June 9, 2006, which, inter alia, granted plaintiffs and defendant Zupa’s motions for summary dismissal of Madison’s counterclaim for a declaratory judgment and cross claim for specific performance, granted upon renewal Zupa’s motion for summary dismissal of Madison’s counterclaim for breach of contract and confirmed his stipulation of discontinuance with plaintiff, and denied Madison’s motion to, inter aha, file a supplemental answer advancing new claims and adding new defendants, unanimously dismissed, without costs, as subsumed in the appeal from the judgment.
The motion court correctly found that plaintiff properly exercised his right of first refusal by giving notice of acceptance and tendering the required deposit (see e.g. Yudell Trust I v API Westchester Assoc., 227 AD2d 471, 473 [1996]); plaintiff was not required to accept by performance. Plaintiff did not reject the right of first refusal or repudiate any contract created by its exercise when it sought damages on the ground that the third party’s offer was collusively inflated, and did not conclusively admit that it had failed to properly exercise its right by seeking additional time for disclosure of the true terms and conditions of the third party’s offer that plaintiff was required to match. Madison’s contention that plaintiff improperly assigned its right of first refusal is unsupported by the facts, which show that it
We modify solely to declare in plaintiffs favor (see Lanza v Wagner, 11 NY2d 317, 334 [1962], appeal dismissed 371 US 74 [1962], cert denied 371 US 901 [1962]).
We have considered appellants’ other contentions and find them unavailing. Concur—Friedman, J.P., Marlow, Sullivan, Nardelli and Gonzalez, JJ.
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