Ordered that the judgment is affirmed, with costs.
"[T]he purchase price set in the course of an arm's length transaction of recent vintage, if not explained away as abnormal in any fashion, is evidence of the `highest rank' to determine the true value of the property at that time" ( Plaza Hotel Assoc. v Wellington Assoc., 37 NY2d 273, 277; see W.T. Grant Co. v Srogi, 52 NY2d 496, 511; Healey-Ostenfeld Realty Corp. v Green, 101 AD2d 878). Here, evidence as to the petitioners' purchase of the subject property provided a rational basis for the hearing officer's determination, and the Supreme Court therefore correctly sustained that determination ( see Matter of Gershon v Nassau County Assessment Review Commn., 29 AD3d 909). The petitioners' claim that the respondent, the hearing officer, and the Supreme Court were bound by the determination in a prior small claims assessment review proceeding is without merit ( see RPTL 735; Matter of McDonald v Briggs, 245 AD2d 1037).