Courts roundup: AllianceBernstein sues Meadow for $27M; Yoel Goldman sues partners for $26M

Courts roundup for Friday, April 30, 2021: There were no bankruptcy filings and there was one commercial foreclosure for $27 million.

Please note that court filings are the position of one party and are not necessarily accurate or complete.

AllianceBernstein sues Meadow Partners for $27M: AllianceBernstein filed to foreclose on a loan secured by The Gregory Hotel at 42 West 35th Street, New York with an original principal of $31 million provided in 2017. The signatory for the 2017 loan was Meadow Partners principal Timothy Yantz. The suit says the guarantor, the owner entity, owes the $6 million as a “carry guaranty.” Edward Gellert, the signatory on the suit, is a managing director for commercial real estate debt at AllianceBernstein.  The suit gives the first event of default on April 10, 2020. Subsequently the parties executed a forbearance agreement. The suit says Meadow has made payments totaling $1.8 million since April 2020. LINK

Yoel Goldman sues partners Zelig Weiss, Fedor Itskovitch over Bed-Stuy parcels: Yoel Goldman filed a suit seeking $26 million to enforce an alleged settlement agreement. “This action seeks specific performance, monetary damages, and declaratory and equitable relief requiring defendants, inter alia, to assign the Goldman Parcel to Plaintiff and to perform the reconciliation contemplated under the Settlement Agreement.” “Block 1884, Lot 40,” located at 376 Flushing Avenue, Brooklyn, New York 1120, (ii) “Block 1884, Lot 48,” located at 378-392 Flushing Avenue, Brooklyn, New York 11205 (together with Lot 40, the “Rose Castle Parcel”), and (iii) “Block 1885, Lot 15,” located at 39-51 Franklin Avenue, Brooklyn, New York 11205 (the “Goldman Parcel”).” LINK

Soho groups sue city over neighborhood rezoning: Several Soho neighborhood groups are seeking to stop the area rezoning. “As to the First Claim, a writ of mandamus, directing Respondents to: (i) provide a proper and legally-compliant 30-day Pre-Certification Notice in accordance with the provisions of the City Charter; (ii) publish a proper and legally-compliant 30-day Pre-Certification Notice on DCP’s website within five days thereafter, in accordance with the provisions of the City Charter; and (iii) modify the anticipated certification date of the ULURP Application in accordance with the provisions of the City Charter…” LINK