In a May 3, 2011 decision by Justice Driscoll the court granted defendants’ motion to transfer the action to New York County. The litigation concerned the ownership of a significant number of real properties. A number of family members purchased the various interests in real property beginning in about 1930. The original investors agreed that upon their deaths the real property would be offered for sale to the other original investors at “book value.” This agreement was memorialized in various documents. Over the years one of the original investors transferred his interests in some of the properties (or the entities that owned the properties) to his wife and daughters. Upon his death his wife and daughters refused to offer the real estate interest to the surviving original investors at “book value.”
The remaining two original investors brought suit against the wife and daughter seeking various relief, including requiring the transfer of the investments at book value. The suit was brought in Nassau County based on the residence of one of the original investors. The defendants moved to transfer the action to New York County based on CPLR § 507 arguing that the action affected the title to real property located in New York County. The plaintiffs objected arguing that the litigation was over various interests in corporations that owned real property, not the real property itself. The court disagreed and granted defendants’ motion, finding that at least one actual parcel of real property was at issue in the ligation which was located in New York County and the litigation should have been venued there.
Alpert v Alpert, et al., Sup Ct, Nassau County, May 3, 2011, Driscoll, J, Index No. 26735/09