99th Ave. Holdings, LLC v. Schatz

2025 NY Slip Op 30979(U)
CourtNew York Supreme Court, New York County
DecidedMarch 13, 2025
DocketIndex No. 151688/2024
StatusUnpublished

This text of 2025 NY Slip Op 30979(U) (99th Ave. Holdings, LLC v. Schatz) 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
99th Ave. Holdings, LLC v. Schatz, 2025 NY Slip Op 30979(U) (N.Y. Super. Ct. 2025).

Opinion

99th Ave. Holdings, LLC v Schatz 2025 NY Slip Op 30979(U) March 13, 2025 Supreme Court, New York County Docket Number: Index No. 151688/2024 Judge: Emily Morales-Minerva 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. [FILED: NEW YORK COUNTY CLERK 03/25/2025 03:30 P~ INDEX NO. 151688/2024 NYSCEF DOC. NO. 47 RECEIVED NYSCEF: 03/25/2025

SUPREME COURT OF THE STATE OF NEW YORK NEW YORK COUNTY PRESENT: HON. EMILY MORALES-MINERVA PART 42M Justice . . ------------------------------------X INDEX NO. 151688/2024 99TH AVENUE HOLDINGS, LLC MOTION DATE 06/27/2024 Plaintiff, MOTION SEQ. NO. 001 -v- LARRY H SCHATZ, DECISION + ORDER ON MOTION Defendant. ----------------------X

The following e-filed documents, listed by NYSCEF document number (Motion 001) 22, 23, 24, 25, 26, 27,28,29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39,40,41,42,43,44,45 were read on this motion to/for DISMISS

APPEARANCES:

Thomas D. Shanahan, P.C., New York, New York (Thomas D. Shanahan, Esq., of counsel) for Plaintiff.

Marshall Dennehey Warner Coleman & Goggin, New York, New York (Nicholas Peter Chrysanthem, Esq., of counsel) for Defendant.

HON. EMILY MORALES-MINERVA:

In this legal malpractice action, defendant LARRY H.

SCHATZ, moves, by notice of motion (sequence no. 001), pursuant

to CPLR § 3211 (a) (1), (5) and (7), 1 dismissing the complaint of

1 CPLR § 3211 (a) provides, as pertinent here, "A party may move for judgment dismissing one or more causes of action asserted against him on the ground that: "(1) a defense is founded upon documentary evidence; or "(5) the cause of action may not be maintained because of arbitration and award, collateral estoppel, discharge in bankruptcy, infancy or other disability of the moving party, payment, release, res judicata, statute of limitations, or statute of frauds; or "(7) the pleading fails to state a cause of action."

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plaintiff 99TH AVENUE HOLDINGS, INC. Plaintiff appears and

opposes the motion.

In addition to opposing defendant's motion, plaintiff

moves, by cross-motion, pursuant to CPLR § 3212, for an order

granting it summary judgment against defendant. Defendant

appears and opposes plaintiff's motion.

For the reasons set forth below, defendant's motion (seq.

no. 001) is denied entirely, and plaintiff's cross-motion is

denied entirely.

BACKGROUND

On or about April 20, 2015, plaintiff, 99TH AVENUE

HOLDINGS, LLC (plaintiff), entered into a Lease Agreement (the

Lease) with non-party New York Communications Center Associates,

LP, (Landlord) for the premises located at 350 West 50th Street,

New York, NY, ground-floor, operated as TMPL Gym (the Gym) (see

New York State Court Electronic Filing System [NYSCEF] Doc. No.

26, Lease) . Pursuant to Paragraph 78 of the Lease, entitled

"Landlord's Contribution", Landlord agreed to reimburse

plaintiff up to $3,750,000.00 for renovation costs -- utenant

improvement funds" -- incurred by plaintiff within the first

year of the lease term (see id. at 1 78 [A]). The Lease further

provided as follows:

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"{C) [Landlord ] sha ll pay t o [p lai ntiff ] the rema ining 1 0% [$375,000.00] of the [$3 , 750,000.00] promptly following the later to occur of the date ( i) [pl ain t iff] opens for busi ness to the gene ral public in the demised premises and ( ii) [plaintiff ] shall deliver to Landlord [] (y) all Building Department Fi li ng d ocument s, permi t s, and approvals, or su ch other evidence reasonably satisfactor y to Landl ord tha t the work is i n compliance wi th the Law [] " (D) No tw ithst anding the foregoing, [plain t iff ' s ] right t o co ll ect Landlord's Contr ibut ion shall exist only with respect to costs actual l y incurred by Te nant within the fi rst year o f the Term [], and to t he extent not ut ili zed within such period, Landlo rd' s Contribution shall be d eemed waived by Tenant and Landlord shall be under no further obligation to make any further payments to Tenant [] . "

(id.).

In October of 2016, plaintiff and non - party TSI Hel l 's

Kitchen , LLC (TSI) entered into discussions to sell the Gym to

TSI (see NYSCEF Doc. No . 00 2 , Comp lai nt). Plaintiff r e tained

defendant LARRY H SCHATZ (defendant) to represent plaint i ff for

t he p u r poses of th is sal e (see i d. ) .

In a ccordanc e with t h e sa l e, defendant d raf ted and

negotia ted an Asse t Purchase Agre ement (APA) and Assi gnment and

Assumption of Lease {As signment ) o n behalf of plaintiff . On or

abo u t November 22, 2017 , plaintiff, re p resented by defendant,

and TS I entered into t he APA and Assignment (see NYSCEF Doc . No.

003 , APA, dat ed November 22, 20 1 7; see a lso NYSCEF Doc. No. 004,

Assignment , dated December 11 , 2017 ).

De f endant a l so draf ted and negotiat ed a Consent Agreement,

en te red into between plaintiff and Landl ord on Decembe r 12, 2017

(se e NYSCEF Doc. No. 004, Consent Ag r eement , dated December 12 ,

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2017}. The Consent Agreement required plaintiff to "obtain a

temporary certificate of occupancy (TCO} in connection with

certain alterations performed by tenant [plaintiff] in the

premises in respect of the permitted use" (id. at~ 3[a]}. It

also provided that, "failure of [plaintiff] to have obtained the

TCO as of the date of this Consent . . shall not be deemed to

be a default under the Lease, provided and on the condition,

that [plaintiff] shall promptly undertake and proceed with

diligence to obtain such TCO" (id.). Pursuant to the same,

plaintiff was required to give $250,000.00 to Landlord to hold

in escrow until plaintiff obtained the TCO (see id. at~ 3 [b)} 2

Thereafter, in accordance with the Consent Agreement,

plaintiff deposited $250,000.00 with Landlord, who had also held

the $375,000.00, representing ten percent of the $3,750,00.00

owed to plaintiff for renovation expenses (the TI Funds) (see

NYSCEF Doc. No. 002, Complaint). In total, Landlord retained

$625,000.00.

On or about September 22, 2020, the City of New York issued

the TCO with an effective date of September 29, 2020 (see NYSCEF

Doc. No. 005, TCO, dated September 29, 2020). However, Landlord

refused to release the $625,000.00 to plaintiff because TSI had

failed to make rent payments pursuant to the Lease, which

2 The Consent Agreement states, "Landlord may use any part of the TCO Security to satisfy any default or failure of Tenant" (NYSCEF Doc. No. 004, Consent Agreement, 1 3 [bl).

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Bluebook (online)
2025 NY Slip Op 30979(U), Counsel Stack Legal Research, https://law.counselstack.com/opinion/99th-ave-holdings-llc-v-schatz-nysupctnewyork-2025.