Courts roundup: Moinian seeks $8.6M at LGA hotel; Feil sues insurer over $7.6M Covid losses; 4 pre-foreclosures

Moinian seeks $8.56M at LGA hotel: Joseph Moinian’s Moinian Group sued Ai Yun Chen and Wendy Chau, the owners of the 217-key hotel, the Holiday Inn LaGuardia Airport, at 37-10 114th Street in Corona, for payment of an allegedly defaulted $6 million mezzanine loan given in October 2018, which now totals $8.56 million. Chen and Chau are the guarantors under the loan agreement, according to the complaint. The suit is for the repayment of the loan only, not to foreclose on the property. Moinian sought to hold a UCC foreclosure auction, according to The Real Deal’s reporting in March 2021, in June 2021. LINK

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

Feil sues insurer over $7.6M Covid losses: The Feil Organization alleges insurer Federal Insurance Company owes it $7,638,133.00 for losses incurred related to Covid-19 closures at retail locations including 261 Fifth Avenue in Manhattan, 356 Fulton Street in Brooklyn, a shopping center upstate and elsewhere. LINK

Lenders file 4 pre-foreclosure suits totaling $8.7M: In the largest, CapStack Partners sued the Boulka Trust entities seeking foreclosure for repayment of a $4 million loan secured by 2294 Frederick Douglass Boulevard in Harlem, LINK. In the next largest, Emerald Creek Capital sued Robin Eshaghpour to foreclose on a $3.3 million loan secured by 90-67 Sutphin Boulevard and 90-69 Sutphin Boulevard in Jamaica, Queens, LINK. The securitized bondholders through the entity Credit Suisse Series 2019-SB61 sued to foreclose on a $1 million loan secured by 359 East 34th Street in East Flatbush, Brooklyn, LINK. The smallest loan was Emigrant Funding seeking to foreclose on a $392,407 loan secured by 927 Utica Avenue, also in East Flatbush, Brooklyn, LINK.

Direct link to Acris document. <a href=”https://a836-acris.nyc.gov/bblsearch/bblsearch.asp?borough=4&block=01782&lot=0019″ target=”_blank”>link</a>