Prime and Green cross-moved for summary judgment dismissing the second cause of action and the claims against Green in his individual capacity, arguing in counsel's affirmation that plaintiffs lacked standing to assert a violation of General Obligations Law § 7-105 and that the statute provides a criminal penalty and does not afford a private right of action. Neither Prime nor Green disputed the amount of the security deposits that had not been turned over. Instead, defendant Green in his affidavit argued that Prime was within its rights to offset the amount of security deposits due to plaintiffs by the amount owed Prime for such items as prepaid taxes. Supreme Court granted plaintiffs summary judgment on the second cause of action, from which this appeal is taken, ruling that General Obligations Law § 7-105 provides plaintiffs with a civil remedy to recover the security deposits. We agree and affirm.
General Obligations Law § 7-105 provides as follows:
"1. Any person, firm or corporation and the employers, officers or agents thereof, whether the owner or lessee of the property leased, who or which has or hereafter shall have received from a tenant or licensee a sum of money or any other thing of value as a deposit or advance of rental as security for the full performance by such tenant or licensee of the terms of his lease or license agreement, or who or which has or shall have received the same from a former owner or lessee, shall, upon conveying such property or assigning his or its lease to another . . . at the time of the delivery of the deed or instrument or assignment or within five days thereafter . . . deal with the security deposit as follows: