DRMAK REALTY LLC v. PROGRESSIVE CREDIT UNION

15329, 653783/13

133 A.D.3d 401 (2015)

18 N.Y.S.3d 618

2015 NY Slip Op 08044

DRMAK REALTY LLC et al., Appellants, v. PROGRESSIVE CREDIT UNION, Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided November 5, 2015.


Order, Supreme Court, New York County (Melvin L. Schweitzer, J.), entered May 30, 2014, which granted defendant's motion to dismiss the complaint pursuant to CPLR 3211 (a) (1) and (7), affirmed, with costs.

Plaintiff Alexander Klein, a sophisticated real estate investor, obtained a loan from defendant in the amount of $3,350,000, secured by a mortgage on a condominium owned by plaintiff DRMAK Realty LLC, an entity controlled by Klein. The loan carried an annual interest...

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