151 MADISON AVENUE INVESTORS, LLC VS. CARE ONE AT MADISON, LLC (L-1852-19, MORRIS COUNTY AND STATEWIDE)

CourtNew Jersey Superior Court Appellate Division
DecidedJuly 13, 2020
DocketA-1288-19T4
StatusUnpublished

This text of 151 MADISON AVENUE INVESTORS, LLC VS. CARE ONE AT MADISON, LLC (L-1852-19, MORRIS COUNTY AND STATEWIDE) (151 MADISON AVENUE INVESTORS, LLC VS. CARE ONE AT MADISON, LLC (L-1852-19, MORRIS COUNTY AND STATEWIDE)) is published on Counsel Stack Legal Research, covering New Jersey Superior Court Appellate Division primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
151 MADISON AVENUE INVESTORS, LLC VS. CARE ONE AT MADISON, LLC (L-1852-19, MORRIS COUNTY AND STATEWIDE), (N.J. Ct. App. 2020).

Opinion

NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE APPELLATE DIVISION This opinion shall not "constitute precedent or be binding upon any court ." Although it is posted on the internet, this opinion is binding only on the parties in the case and its use in other cases is limited. R. 1:36-3.

SUPERIOR COURT OF NEW JERSEY APPELLATE DIVISION DOCKET NO. A-1288-19T4

151 MADISON AVENUE INVESTORS, LLC,

Plaintiff-Appellant,

v.

CARE ONE AT MADISON, LLC,

Defendant-Respondent. ____________________________

Argued telephonically May 13, 2020 – Decided July 13, 2020

Before Judges Whipple, Gooden Brown, and Mawla.

On appeal from the Superior Court of New Jersey, Law Division, Morris County, Docket No. L-1852-19.

Robert B. Rosen argued the cause for appellant (Hellring Lindeman Goldstein & Siegal LLP, attorneys; Robert B. Rosen, of counsel and on the briefs).

Patrick T. Collins argued the cause for respondent (Skoloff & Wolfe, PC, attorneys; David Benjamin Wolfe and Patrick T. Collins, on the brief).

PER CURIAM Plaintiff 151 Madison Avenue Investors, LLC appeals from an October

25, 2019 order denying plaintiff's application for confirmation of an arbitration

award and counsel fees, and granting defendant Care One at Madison, LLC its

application to disqualify Arthur Linfante from serving as arbitrator in future

arbitration proceedings, ordering both parties to designate arbitrators who are to

designate a third, and denying counsel fees to both parties. We affirm.

Defendant is a commercial tenant operating a skilled nursing facility in

property owned by plaintiff. The lease agreement between the parties provides

that on the twenty-first anniversary of the lease, which fell on June 12, 2019, the

fixed rent would adjust to 110% of the annual fair market rental value

(AFMRV). Pursuant to the lease agreement, the AFMRV was to be initially

determined by defendant, who was then to propose it to plaintiff six months

before the computation date. If plaintiff disputed defendant's AFMRV, it was

to notice defendant within thirty days after receiving defendant's proposal.

If the matter was not resolved between the parties within thirty days of the

notice of dispute, the AFMRV was to be "determined by arbitration," where each

party was to choose an "arbitrator," the two "arbitrators" were to agree on a third

"arbitrator," and then all three "arbitrators" were to "conduct such hearings as

they deem appropriate, making their determination in writing, and shall give

A-1288-19T4 2 notice to [plaintiff] and [defendant] of their determination as soon as practicable;

the concurrence of any two of said arbitrators shall be binding." Should no two

arbitrators render a concurrent determination, the determination of the third

arbitrator was to be binding on the parties. If the two arbitrators failed to agree

on a third arbitrator, "either party may apply to the American Arbitration

Association . . . for the designation of such arbitrator."

If either party failed to choose an arbitrator within fifteen business days

of the expiration of the thirty-day period, the arbitrator chosen by the other side

was to make the determination alone. All the arbitrators were required to be

"real estate appraisers who are members of the Appraisal Institute or any

successor organization thereof and who have had at least fifteen [] years

continuous experience in the business of appraising real estate in the Morris

County, New Jersey area."

Plaintiff did not agree with defendant's proposed AFMRV of $160,000,

which was belatedly submitted on February 4, 2019, and based off the

municipality's assessment, so plaintiff submitted its notice of dispute to

defendant on February 28. Because plaintiff did not have experience

determining an AFMRV, it retained Arthur Linfante of Integra Realty

Resources, who had extensive experience appraising real estate in Morris

A-1288-19T4 3 County, in anticipation of negotiations with defendant in the hopes of coming to

an agreement "without having to go through the arbitration process

contemplated by the [l]ease [agreement]." Linfante had previously appraised

the property in October 2018, basing his appraisal on the value of the corporation

as of November 2017, after being appointed by the court to do so in a

shareholder dispute.

The parties were unable to resolve the determination of the AFMRV by

March 30, and, pursuant to the lease agreement, were required to select

arbitrators by fifteen business days later, which was April 19. Plaintiff noticed

its chosen arbitrator on April 11; it chose Linfante. Defendant belatedly noticed

its chosen arbitrator on April 30, seven days after it was due, to which plaintiff

objected and stated by letter the AFMRV would be established solely by

Linfante. After communications in May between both parties' counsel

discussing comparable sales, including comparable sales plaintiff told defendant

were provided to it by Linfante, by letter dated June 27 defendant objected to

Linfante serving as arbitrator "given [plaintiff's] ongoing discussions with him

as a consultant. Although a well-respected appraiser, [] Linfante's role as an

advocate and consultant disqualifies him as a neutral arbitrator." Defendant

indicated it would be willing to move forward with its belatedly-proposed

A-1288-19T4 4 arbitrator in a single arbitrator proceeding, or, if plaintiff would like to propose

a new arbitrator as contemplated by the lease, defendant requested it do so "as

soon as possible."

Through a letter addressed only to plaintiff dated July 31, Linfante

submitted an appraisal report, the purpose of which was stated "to develop an

opinion of the market value of the fee simple interest in the property and the

[AFMRV]. The client for the assignment is [plaintiff] . . . , and the intended use

is for establishing the '[AFMRV]' as of . . . June 12, 2019." "Market value" was

defined in the report to be the "most probable" price a property should bring.

The report disclosed, as required by the Uniform Standards of

Professional Appraisal Practice (USPAP), that "[w]e have previously appraised

the property that is the subject of this report . . . . In October of 2018 we

appraised the leased fee value of the property . . . to establish the 'fair value' of

the shares of stock of dissenting shareholders." The report also included a

paragraph explaining the "opinions of value" were based on "estimates and

forecasts that are prospective in nature" and subject to "considerable risk and

uncertainty," and "based partly on data obtained from interviews and third-party

sources," although the findings were thought to be "reasonable based on

available evidence." Linfante's "opinion" of the AFMRV was $529,550. This

A-1288-19T4 5 was higher than his October 2018 court-ordered appraisal because it was based

on the 178 beds reflected on the certificate of need defendant received from the

State of New Jersey, whereas his prior appraisal was based on around 120 to 140

beds.

On August 2, plaintiff sent defendant's counsel a letter informing them

that since defendant designated its arbitrator out of time, "Linfante became the

sole arbitrator and determinant of the AFMRV." It stated "Linfante has

determined the AFMRV for the subject property by . . . assessing the value of

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151 MADISON AVENUE INVESTORS, LLC VS. CARE ONE AT MADISON, LLC (L-1852-19, MORRIS COUNTY AND STATEWIDE), Counsel Stack Legal Research, https://law.counselstack.com/opinion/151-madison-avenue-investors-llc-vs-care-one-at-madison-llc-l-1852-19-njsuperctappdiv-2020.