423 Flatbush L.L.C. and John Gray v. JPMorgan Chase Bank N.A.

District Court, E.D. New York·Decided August 27, 2026·No. 1:24-cv-08065·Unknown

Opinion

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF NEW YORK -----------------------------------------------------------------x 423 FLATBUSH L.L.C. and JOHN GRAY,

Plaintiffs, MEMORANDUM AND ORDER -against- 24-CV-8065 (OEM) (CHK)

JPMORGAN CHASE BANK N.A.,

Defendant. -----------------------------------------------------------------x ORELIA E. MERCHANT, United States District Judge: On November 20, 2024, John Gray (“Gray”) commenced this action against JPMorgan Chase Bank N.A (“Defendant”), alleging, inter alia, breach of contract related to a mortgage executed against real property located in Brooklyn, New York. See Complaint for a Civil Case Alleging Breach of Contract (28 U.S.C. § 1332; Diversity of Citizenship), Dkt. 1 (“Complaint” or “Compl.”). On October 10, 2025, Gray filed a fourth amended complaint whereby he and 423 Flatbush L.L.C. (“423 Flatbush,” together with Gray, “Plaintiffs”) assert eight causes of action against Defendant related to the mortgage. See Fourth Amended Complaint and Jury Demand, Dkt. 35 (“Fourth Amended Complaint” or “4th Am. Compl.”). Before the Court is Defendant’s fully briefed motion to dismiss the Fourth Amended Complaint under Federal Rule of Civil Procedure 12(b)(1) (“Rule 12(b)(1)”) and Federal Rule of Civil Procedure 12(b)(6) (“Rule 12(b)(6)”). See Notice of Motion to Dismiss Plaintiffs’ Fourth Amended Complaint, Dkt. 46 (“Motion”); Memorandum of Law in Support of Defendant JPMorgan Chase Bank, N.A.’s Motion to Dismiss Plaintiffs’ Fourth Amended Complaint, Dkt. 46-15 (“Mem.”); Plaintiffs’ Memorandum of Law in Opposition to Defendant’s Motion to Dismiss the Fourth Amended Complaint, Dkt. 47-8 (“Opposition” or “Opp’n”); Reply Memorandum of Law in Further Support of Defendant JPMorgan Chase Bank, N.A.’s Motion to Dismiss Plaintiffs’ Fourth Amended Complaint, Dkt. 48 (“Reply”). For the following reasons, Defendant’s Motion to dismiss is granted. BACKGROUND1

A. The Promissory Note and Mortgage Gray is an individual residing at 423 Lincoln Place, Brooklyn, New York (the “Property”). 4th Am. Compl. ¶ 5. Although Gray uses the Property as his primary residence, it is also “used as rental apartments within the multifamily building.” Id. ¶¶ 94-95. Gray is the sole member of 423 Flatbush, a New York State limited liability company whose principal place of business is at the Property. Id. ¶¶ 7-8; Affidavit of Plaintiff John Gray in Support of his Opposition to Defendant Chases’s Motion to the Dismiss the Fourth Amended Complaint (“Gray Aff.”), Exhibit B, Dkt. 47-2 (“423 Flatbush Articles of Organization”); Gray Aff., Exhibit C, Dkt. 47-3 (“Garcia Sale Confirmation”).2 On January 30, 2015, 423 Flatbush executed an Amended and Restated Promissory Note

in favor of Defendant in the amount of $1,700,000. See Affidavit of Heather L. Smith in Support

1 Unless otherwise noted, the following facts are drawn from Plaintiffs’ Fourth Amended Complaint and are accepted as true for the purpose of ruling on Defendant’s Motion. See Ashcroft v. Iqbal, 556 U.S. 662, 678 (2009).

2 When ruling on a motion to dismiss for failure to state claim pursuant to Rule 12(b)(6) or a facial challenge to the Court’s subject-matter jurisdiction pursuant to Rule 12(b)(1), “a district court may consider the facts alleged in the complaint, documents attached to the complaint as exhibits, and documents incorporated by reference in the complaint.” DiFolco v. MSNBC Cable L.L.C., 622 F.3d 104, 111 (2d Cir. 2010); see Concern for Indep. Living, Inc., v. Town of Southampton, 826 F. Supp. 3d 343, 355 (E.D.N.Y. 2026). “Where a document is not incorporated by reference, the court may neverless consider it where the complaint ‘relies heavily upon its terms and effect,’ thereby rendering the document ‘integral’ to the complaint.” DiFolco, 622 F.3d at 111 (quoting Mangiafico v. Blumenthal, 471 F.3d 391, 398 (2d Cir. 2006)). However, “even if a document is ‘integral’ to the complaint, it must be clear on the record that no dispute exists regarding the authenticity or accuracy of the document.” Faulkner v. Beer, 463 F.3d 130, 134 (2d Cir. 2006). Here, the 423 Flatbush Articles of Organization and the Garcia Sale Confirmation are integral to the Fourth Amended Complaint as they indicate that Gray is the sole member of 423 Flatbush, which in turn supports his standing as a guarantor. See DiFolco, 622 F.3d at 111. Further, Defendant does not dispute the authenticity or accuracy of the documents. See Faulkner, 463 F.3d at 134; Reply at 2-4. Therefore, the Court considers them when ruling on the instant Motion. of JPMorgan Chase Bank N.A.’s Motion to Dismiss Plaintiffs’ Fourth Amended Complaint (“Smith Aff.”), Exhibit B, Dkt. 46-11 (“Amended Note”). As security for the Amended Note, 423 Flatbush executed an Amended and Restated Mortgage against the Property in favor Defendant. See Smith Aff., Exhibit C, Dkt. 46-12 (“Amended Mortgage”). To further secure the Amended

Note, Gray executed a Limited Guaranty in favor of Defendant. See Smith Aff., Exhibit E, Dkt. 46-14 (“Guaranty”).3 The relevant provisions of the Amended Mortgage are as follows: • Obligations Secured: This Security Instrument is given for the purpose of securing . . . [t]he repayment of any and all sums advanced or expenditures made by [Defendant] subsequent to the execution of this Security Instrument for the maintenance or preservation of the Property or advanced or expended by [Defendant] pursuant to any provision of this Security Instrument subsequent to its execution, together with interest thereon. Amended Mortgage ¶¶ 3-3.2.

• Preservation of Lien. [423 Flatbush] will preserve and protect the priority of this Security Agreement as a first lien on the Property. If [423 Flatbush] fails to do so, [Defendant] may take any and all actions necessary or appropriate to do so and all sums expended by [Defendant] in so doing shall be treated as part of the obligations secured by this Security instrument . . . . Id. ¶ 4.2.

• Taxes, Assessments, and Other Liens. [423 Flatbush] will pay prior to delinquency all taxes, assessments, encumbrances, charges, and liens with interest, on the Property or any part thereof, including but not limited to any tax on or measured by rents of the Property, the [Amended Note], this Security Instrument, or any obligation or part thereof secured hereby. Id. ¶ 4.9

• Repayment of Expenditures. [Defendant] will pay within five (5) days after written demand all amounts secured by this Security Instrument, other than principal of and interest on the [Amended Note], with interest from the date of the expenditure at the rate of interest borne by the [Amended Note] and the repayment thereof shall be secured by the Security Instrument. Id. ¶ 4.11

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423 Flatbush L.L.C. and John Gray v. JPMorgan Chase Bank N.A., (E.D.N.Y. 2026).

423 Flatbush L.L.C. and John Gray v. JPMorgan Chase Bank N.A. (423 Flatbush L.L.C. and John Gray v. JPMorgan Chase Bank N.A.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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