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NORSTAR BANK v. LNP REALTY CORP.

216 A.D.2d 279 (1995)

627 N.Y.S.2d 740

Norstar Bank, Respondent, v. Lnp Realty Corp. et al., Appellants, et al., Defendants

Appellate Division of the Supreme Court of the State of New York, Second Department.

June 5, 1995

Ordered that the order and judgment is affirmed insofar as appealed from, with costs.

The appellant LNP Realty Corp. borrowed $550,000 from the plaintiff for commercial property. Payment of the loan was personally guaranteed by the appellants ABC Mechanical Systems, Inc., ABC Systems, Inc., Louis Provenzano, and Eileen Provenzano. At the time of the loan origination, the appellants obtained an appraisal valuing the property at $510,000. After the appellants defaulted...

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