In Anderson v. 50 E. 72nd St. Condominium, 119 A.D.2d 73 [1st Dept 1986], the Court upheld the application of the commercial exception to the rule against perpetuities where the preemptive rights were lodged in the condominium corporation because the policies underlying the Bruken exception, the encouragement and development of property, were supported by such application. The Court further stated that: "In light of the comparatively recent emergence and widespread use of new and creative ownership arrangements of property, such as condominiums and cooperatives, that were uncontemplated in the postfeudal agrarian period in which the then progressive Rule Against Perpetuities had its genesis, this modern trend of holding the 'right of first refusal' not to be subject to that rule appears to be more consistent with the realities of contemporary commerce and economics than the authorities holding to the contrary." (Anderson, 119 A.D.2d at 78.)