Opinion
December 16, 1997
Appeal from the Supreme Court, New York County (Stanley Parness, J.).
In the present circumstances, the IAS Court properly refused to give preclusive effect to the parties' 1974 consent judgment since respondents do not have the power to limit an exemption granted by the Legislature ( see, Castle Oil Corp. v. City of New York, 89 N.Y.2d 334, 338-339), and under New York Constitution, article XVI, § 1, no party may contract away the Legislature's exclusive power as to tax exemptions ( see, e.g, Anastasio v. City of New York, 93 A.D.2d 769, 770, affd 61 N.Y.2d 615). We have considered appellants' remaining arguments and find them to be without merit.
Concur — Sullivan, J. P., Williams, Mazzarelli, Andrias and Colabella, JJ.