Olympia & York 2 Broadway Co. v. Produce Exch. Realty Trust

In Olympia & York 2 Broadway Co. v. Produce Exch. Realty Trust, 93 AD2d 465 [1983] which involved a CPLR 7601 proceeding to confirm an appraiser's report analogous to the instant application, the Appellate Division, First Department, set forth the criteria for setting aside an appraisal produced by a qualified appraiser chosen in accordance with a procedure agreed to by the parties, holding that "the determination of an appraiser is to be upheld as long as the appraiser proceeds in good faith and without bias or fraud."