Jade Realty LLC v. Citigroup Commercial Mortgage Trust 2005-EMG

Order, Supreme Court, New York County (Michael D. Stallman, J.), entered December 16, 2009, which, to the extent appealed from, granted defendants-respondents’ motion for summary judgment dismissing the complaint and denied plaintiffs cross motion for summary judgment on its first cause of action for breach of contract, unanimously reversed, on the law, without costs, the motion denied, the complaint reinstated, and the cross motion granted.

In 2003, plaintiff and defendants’ predecessor in interest Emigrant Securities Corp. negotiated a refinancing of an outstanding commercial loan. The note…