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Herrmann v. AMD Realty, Inc.

This is a declaratory judgment action brought to determine the validity of a right of first refusal to purchase an unimproved 13,493 square foot piece of property located on Oak Street in the City of New Rochelle. The property is identified on the Tax Maps of the City of New Rochelle as Block 267, .....

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This is a declaratory judgment action brought to determine the validity of a right of first refusal to purchase an unimproved 13,493 square foot piece of property located on Oak Street in the City of New Rochelle. The property is identified on the Tax Maps of the City of New Rochelle as Block 267, Lot 3 (“Lot 3″). Plaintiffs Edward I. Herrmann and Lawrence A. Herrmann came into title of Lot 3 as residuary estate devisees under the last will and testament of their late father, Herbert R. Herrmann (“Mr. Herrmann”), who died March 26, 1988 and whose will was admitted to probate on July 8, 1988.

The subject right of first refusal (the “right”) is found in a recorded lease surrender agreement dated May 19, 1982 between Mr. Herrmann and Certified Fence Corp. (“Certified Fence”), a former lessee and, thereafter, owner of an adjoining improved lot (Lot 2, Block 267; “Lot 2″). Certified Fence remained a tenant of Lot 3 until 2001 when, in connection with its sale of Lot 2 to defendant AMD Realty, Inc. (“AMD”), Certified Fence surrendered Lot 3 to plaintiffs, and assigned the right of first refusal to Lot 3 to defendant AMD.

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