Courts roundup: Vanke seeks $591K from Rosen, Fuchs; Durst’s third Vernon suit continues, more

Courts roundup for April 2, 3 and 4, 2021: There were no New York City bankruptcies of note. There was a small commercial foreclosure with a $651,000 first mortgage.

Please not that court filings are the positions of one party and may or may not be accurate or complete.

Vanke US claims Rosen, Fuchs owe $591K in capital calls: Vanke US, the United States branch of the large Chinese developer China Vanke, claims its partners on the condominium development at 610 Lexington Avenue in Midtown, RFR Holding’s Aby Rosen and Michael Fuchs, owe $591,493 as guarantors for eight capital calls issued since December 2019. Vanke US holds a 93 percent interest in the condo development, and RFR a 7 percent interest, according to the complaint. Vanke alleges Rosen and Fuchs, identifies as guarantors, have not completed eight capital call contributions totaling $591,493, while Vanke has made its proportionate contributions, totaling $8.04 million. LINK

Durst continues third Vernon suit in Long Island City: The Durst Organization is pushing ahead with a 2013 mechanic’s lien foreclosure suit tied to the property at 44-02 Vernon Boulevard in Long Island City, owned by a group including Bruce Teitelbaum. In its filing Friday, Durst converted the original 2013 filing process which was based on paper filings, to an electronic filing, with the Queens County Clerk. Durst has pursued foreclosure of a first mortgage and a junior mortgage as well, but has not been able to wrest control. LINK

PS Funding files to foreclosure on $651k loan in East New York: PS Funding filed to foreclose on a $651,000 commercial mortgage secured by a two-family property at 148 Hendrix Street in East New York. LINK