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BELTWAY 7 v. BLACKROCK REALTY

654187/16. 7154.

167 A.D.3d 100 (2018)

90 N.Y.S.3d 3

2018 NY Slip Op 07844

BELTWAY 7 PROPERTIES, LTD., Appellant, v. BLACKROCK REALTY ADVISERS, INC., et al., Respondents.

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

Decided November 15, 2018.

Attorney(s) appearing for the Case

Schlam Stone & Dolan LLP, New York City ( Jeffrey M. Eilender and Seth D. Allen of counsel), for appellant.

Dewey Pegno & Kramarsky LLP, New York City ( Thomas E.L. Dewey and L. Lars Hulsebus of counsel), for respondents.

RENWICK, J.P., GISCHE, KERN and MOULTON, JJ. concur.

OPINION OF THE COURT

Defendants (collectively, Blackrock) are the assignees of a $25 million mezzanine loan originally made by nonparty JP Morgan to plaintiff. The mezzanine loan was secured by plaintiff's interest in an affiliated entity called L Reit Ltd., which in turn owned real property in Texas. Around the time that...

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