Order affirmed, insofar as appealed from, with costs.
Special Term properly declared that the transfer of shares from an apartment corporation to individual unit purchasers, pursuant to a cooperative apartment conversion plan, is a taxable event pursuant to Tax Law article 31-B (L 1983, ch 15, § 181; as amended L 1984, ch 900). The making of the contract of sale for the transfer of real property from the sponsor to the apartment house corporation was not the taxable event. O'Connor, J.P., Rubin, Lawrence and Eiber, JJ., concur.