99th Ave. Holdings, LLC v. Schatz

2025 NY Slip Op 30979(U)
New York Supreme Court, New York County·Decided March 13, 2025·No. Index No. 151688/2024·Unpublished

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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[FILED: NEW YORK COUNTY CLERK 03/25/2025 03:30 P~ INDEX NO. 151688/2024 NYSCEF DOC. NO. 47 RECEIVED NYSCEF: 03/25/2025

"{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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[FILED: NEW YORK COUNTY CLERK 03/25/2025 03:30 P~ INDEX NO. 151688/2024 NYSCEF DOC. NO. 47 RECEIVED NYSCEF: 03/25/2025

plaintiff had assigned to TSI (see NYSCEF Doc . No. 002, Complaint) .

On October 8, 2020, defendant demanded that Landlord release the TI Funds "of $375,000.00 a s a final payment of [the ] Tenant Improvement Allowance due to [plaintiff] plus the sum of $250,000.00 as security for the issuance of a TCO [ ] which has been issued" (NYSCEF Doc. No. 006, Demand Letter, dated October 08 , 2020) . Land l ord refused to release the funds.

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