DRMAK Realty LLC v. Progressive Credit Union
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
Order, Supreme Court, New York County (Melvin L. Schweitzer, J.), entered May 30, 2014, which granted defendant’s motion to dismiss the complaint pursuant to CPLR 3211 (a) (1) and (7), affirmed, with costs.
Plaintiff Alexander Klein, a sophisticated real estate investor, obtained a loan from defendant in the amount of $3,350,000, secured by a mortgage on a condominium owned by plaintiff DRMAK Realty LLC, an entity controlled by Klein. The loan carried an annual interest rate of 7.5% with an initial interest payment of $16,052.16, due upon execution. The failure to make a payment within 10 days…
2Cases cited6 opinions
- Rovello v. Orofino Realty Co.New York Court of Appeals · 1976
- Sokoloff v. Harriman Estates Development Corp.New York Court of Appeals · 2001
- Dillon v. U-A Columbia Cablevision of Westchester, Inc.New York Court of Appeals · 2003
- Kilpatrick v. . Germania Life Ins. Co.New York Court of Appeals · 1905
- Gimbel Bros. v. Brook Shopping Centers, Inc.Appellate Division of the Supreme Court of the State of New York · 1986
1 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
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- Beltway 7 & Props., Ltd. v. Blackrock Realty Advisers, Inc.Appellate Division of the Supreme Court of the State of New York · 2018
- Cohen Bros. Realty Corp. v. RLI Insurance Co.Appellate Division of the Supreme Court of the State of New York · 2017
8 more not listed; retrieve them via the Exa API.