71st St.-Lexington Corp. v. Frankel, 2026 NY Slip Op 03358 (2026)

Citation: 71st St.-Lexington Corp. v. Frankel, 2026 NY Slip Op 03358 (2026)
Parent Document: 71st St.-Lexington Corp. v. Frankel, 2026 NY Slip Op 03358 (2026)
Jurisdiction: New York (state)
Effective Date: 2026-05-28
Original Source: https://www.courtlistener.com/opinion/10866522/71st-st-lexington-corp-v-frankel/ ↗

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The court also properly rejected defendant's assertion that plaintiff was required to proceed under article 9 of the UCC. This action is not governed by UCC article 9 because it is not a foreclosure against a security interest (see Fundex Capital Corp. v Reichard, 172 AD2d 420, 421 [1st Dept 1991], lv dismissed 78 NY2d 1007 [1991]). Rather, plaintiff's claims are for declaratory relief and attorneys' fees to enforce its right under the proprietary lease to sell the shares appurtenant to the apartment based on the termination of proprietary lease.

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