Courts roundup: Another Kalimian family lawsuit, $41M hotel pre-foreclosure, Trump Org sues co-op after water damage

At least fourth recent action filed over large Kalimian portfolio: Justin Amirian of Eagle Point Properties along with Edna Kalimian Amirian (his mother) and Saeed Amirian, filed a summons noting an unspecified contract dispute with Justin Amirian’s uncle Albert Kalimian and aunts Debra Kalimian and Rita Kalimian Sakhaie, related to three properties, 259 West 10th Street, 140 Wooster Street and 142 Wooster Street. The dispute is valued at more than $1 million, according to the summons.

The family members sold a 75% stake in the three buildings valued at $43.5 million between the parties in April 2022. The 10th Street building was sold to an entity in care of Justin Amirian’s Eagle Point Properties. The two Wooster Street parcels were sold to entities in care of Debra Kalimian as the buyers. In this action, “The nature of this action is a claim for breach of operating agreement, unjust enrichment, breach of implied contract-in-fact, and breach of fiduciary duty. The damages are in an amount in excess of $1,000.000.” LINK

Court filings represent the view of one party and are not necessarily accurate or complete.

This filing is similar to another from last month, (which is here) and they are part of an ongoing dispute between the two sides. The animosity boiled over, and in a court filing Albert Kalimian made in October 2022, he alleged Justin defamed him 159035/2022, and a few weeks later Justin filed a suit in Nassau County 616344/2022 outlining a series of allegation against Albert that were sharply critical of Alberts long-time management of the portfolio. Over the past year, the parties have sold interests in the buildings to one another.
This is the latest in a string of lawsuits between Albert Kalimian and his nephew Justin Amirian about control and management of a large portfolio laid out here.

$41M Garment District hotel pre-foreclosure: The special servicer for a loan secured by the 173-key hotel at 345-351 West 35th Street claims the owner has defaulted on the debt. The owner is an entity controlled by Joginder “John” Sharma, who was the signatory for the $47 million loan in 2014. The current debt is $41.3 million, according to the suit. The complaint alleges, “The Borrower breached the terms of the Loan Documents by, among other things, failing to make monthly payments when due… improperly terminating the Hotel Management Agreement, and allowing the Sole Member Sale to occur…There is now due and owing to the Plaintiff under the Mortgage and other Loan Documents the principal sum of $41,384,793.46, plus accrued interest at the Default Rate (as defined in the Loan Agreement), plus any applicable late charges…” Greystone Servicing Company is special servicer. LINK

Trump Organization sues co-op after water leak: The Trump Organization alleges its garage property, which it controls through a master lease with the cooperative building Trump Plaza at 167 East 61st Street in Lenox Hill, was damaged by a water leak and the co-op is not moving quickly enough on repairs. The damage is at least $250,000, the filing says. According to the complaint, “On March 30, 2022, there was a severe ceiling collapse in the Garage causing significant damage to parked automobiles… Forensic engineers, Cowley Engineering, P.C. (“Cowley”), retained by the Corporation issued a report on April 10, 2022 concluding that the collapse and other affected areas was caused by, inter alia, years of neglect, the age of the garage deck, and water penetrating from the Con Ed sidewalk vault on the Corporation’s property…” LINK

Direct link to the property’s ACRIS page and link to DOB NOW portal.