30 Broad St. Venture LLC v. Ovadia Design Group LLC

2024 NY Slip Op 33561(U)
CourtNew York Supreme Court, New York County
DecidedOctober 7, 2024
DocketIndex No. 650058/2022
StatusUnpublished

This text of 2024 NY Slip Op 33561(U) (30 Broad St. Venture LLC v. Ovadia Design Group LLC) is published on Counsel Stack Legal Research, covering New York Supreme Court, New York County primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
30 Broad St. Venture LLC v. Ovadia Design Group LLC, 2024 NY Slip Op 33561(U) (N.Y. Super. Ct. 2024).

Opinion

30 Broad St. Venture LLC v Ovadia Design Group LLC 2024 NY Slip Op 33561(U) October 7, 2024 Supreme Court, New York County Docket Number: Index No. 650058/2022 Judge: Judy H. Kim Cases posted with a "30000" identifier, i.e., 2013 NY Slip Op 30001(U), are republished from various New York State and local government sources, including the New York State Unified Court System's eCourts Service. This opinion is uncorrected and not selected for official publication. INDEX NO. 650058/2022 NYSCEF DOC. NO. 40 RECEIVED NYSCEF: 10/07/2024

SUPREME COURT OF THE STATE OF NEW YORK NEW YORK COUNTY PRESENT: HON. JUDY H. KIM PART 04 Justice ---------------------------------------------------------------------------------X INDEX NO. 650058/2022 30 BROAD STREET VENTURE LLC, MOTION DATE 05/17/2022 Plaintiff, MOTION SEQ. NO. 001 -v- OVADIA DESIGN GROUP LLC, JACK OVADIA, DECISION + ORDER ON MOTION Defendants. ---------------------------------------------------------------------------------X

The following e-filed documents, listed by NYSCEF document number (Motion 001) 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 36 were read on this motion for SUMMARY JUDGMENT .

FACTUAL BACKGROUND

Plaintiff 30 Broad Street Venture LLC is the owner of the building located at 30 Broad

Street, New York, New York. On May 24, 2018, plaintiff leased a portion of the twentieth floor

of 30 Broad Street (the “Premises”) to defendant Ovadia Design Group LLC (“ODG”) pursuant to

an Agreement of Lease dated May 24, 2018, with a term of ten and a half years (the “Lease”)

(NYSCEF Doc. No. 14 [Lease at §1(a)(xvi)]). Under the Lease, ODG was obligated to pay annual

rent pursuant to a schedule set forth therein (Id. at Ex. D) and a security deposit in the form of a

letter of credit issued to plaintiff by a federally insured lending institution in the amount of

$71,239.98 (Id. at §§1(A)(xiii), 33).

Contemporaneously with ODG’s execution of the Lease, defendant Jack Ovadia executed

a Limited Guaranty (the “Guaranty”) obligating him to pay certain “Guaranteed Obligations,”

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including rent and regularly recurring additional rent accruing under the Lease, if same was not

paid by ODG, with certain exceptions should ODG vacate the Premises upon ninety days written

notice (Id. at §42[q]; Ex. E]).

On April 20, 2020, the parties entered into a First Amendment of Lease (the “First

Amendment”), in which, as pertinent here, ODG acknowledged that it owed plaintiff $12,297.84

in rent arrears through April 30, 2020 and $12,199.85 in rent for May 2020 and permitted plaintiff

to draw against the Letter of Credit to satisfy the outstanding amount of $24,497.69, which security

ODG would replenish in four monthly installments commencing on November 1, 2024. The First

Amendment also provided that the Guaranty would be amended to add the replenishment of the

$24,497.69 as an obligation of the Guarantor, Ovadia (NYSCEF Doc. No. 15 [First Amend. at

¶¶3-4]).

On October 19, 2020, the parties entered into a Second Amendment of Lease (the “Second

Amendment”) which provided, in pertinent part that ODG consented to Landlord drawing down

the remainder of the letter of credit in six installments of $7,790.38 from November 1, 2020

through April 1, 2021 as a portion of Rent, which amounts would again be replenished by ODG in

monthly installments beginning on January 1, 2022 (NYSCEF Doc. No. 16 [Second Amend. at

¶¶3(a), 4]). The Guaranty was again amended to add replenishment of ODG’s security as an

obligation of Ovadia as guarantor (Id. at ¶6).

ODG vacated the Premises on or about October 29, 2021 (Id. at ¶12). Plaintiff maintains,

however, that “ODG has not surrendered the Premises under the Lease, Landlord has not accepted

surrender of the Premises, and the Term has not expired or otherwise terminated” (Id. at 13).

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Plaintiff commenced this action on January 4, 2022, by summons and complaint alleging

that ODG has breached the Lease in failing to pay rent and additional rent and Ovadia has breach

the Guaranty in failing to satisfy ODG’s obligations upon its default (NYSCEF Doc. No. 2 [Compl.

at ¶¶12-16, 27-30]). Defendants interposed an Answer on May 17, 2022, asserting various

affirmative defenses (NYSCEF Doc. No. 13).

On January 11, 2022, Jack Ovadia’s counsel, Eddie Shrem, Esq., contacted plaintiff’s

counsel, Brian Cohen, Esq., via email to discuss resolving this action. Plaintiff’s counsel asserted

that plaintiff would settle this matter as against Ovadia for $71,239.98, “the full amount” owed

(NYSCEF Doc. No. 20). Ovadia’s counsel rejected that offer and countered with an offer of

$31,000.00 (Id.). This offer was rejected by plaintiff’s counsel (Id.).

On January 20, 2022, Ovadia’s counsel then wrote the following:

“Hi Brian, I relayed to Jack your clients position. They will be filing an answer shortly. Good news is that Jack is able to pay the $71,200 asked of him spread out over 3 equal monthly payments if that helps. Again, this would be for a full release for Jack in all respects as offered. Can you check with your clients if there is still interest here? Best Regards, Eddie Shrem, Esq.”

Plaintiff’s counsel responded:

“Eddie, Our client will settle the case against Jack only for $71,250.00 under the following circumstances: (1) he makes the first payment of the $23,750 on signing; and (2) the final two payments of $23,750 each are secured by a confession of judgment. Jack will get a full general release and the case will be partially discontinued against him individually. The case will then proceed against Ovadia Design Group LLC. Please let me know if we have a deal. Thanks, Brian”

Ovadia’s counsel replied:

“Brian, COJS for the final 2 amounts are fine. We can pay the first installment at the time of signing. Best Regards, Eddie Shrem, Esq.”

(Id. [emphasis added]). Plaintiff’s counsel responded: “Thanks Eddie. I’ll send a draft settlement

agreement and COJ.” Ovadia’s counsel replied, “Ty.” (Id.).

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However, after plaintiff’s counsel emailed drafts of the Settlement Agreement, Release,

and affidavit of Confession of Judgement, Ovadia’s counsel responded “Brian, I think the clients

are talking about a different amount and breakdown. Subject to those amounts and terms, the rest

of the Agreement is fine” (Id.). No settlement agreement was ever signed.

Plaintiff contends that it reached a binding agreement with Ovadia through the above email

exchange and moves, pursuant to CPLR 2104, to enforce this settlement as against him (or,

alternatively, for summary judgment against him for breach of the Guaranty, as amended).

Plaintiff also moves, pursuant to CPLR 3212, for summary judgment on its breach of

contract claim against ODG, seeking unpaid rent, additional rent, security and attorneys’ fees

(pursuant to section 19 of the Lease). In support of this branch of its motion, plaintiff submits the

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Bluebook (online)
2024 NY Slip Op 33561(U), Counsel Stack Legal Research, https://law.counselstack.com/opinion/30-broad-st-venture-llc-v-ovadia-design-group-llc-nysupctnewyork-2024.