R4 GL ACQUISITION LLC v. GLORIETA LLC; NEW VISION GLORIETA, LLC; CREATIVE CHOICE HOMES, INC.; NAIMISHA CONSTRUCTION, INC.; GLOBE-OP DEVELOPMENT, LLC; DILIP BAROT; NAIMISHA BAROT

CourtDistrict Court, S.D. New York
DecidedMarch 2, 2026
Docket1:25-cv-00944
StatusUnknown

This text of R4 GL ACQUISITION LLC v. GLORIETA LLC; NEW VISION GLORIETA, LLC; CREATIVE CHOICE HOMES, INC.; NAIMISHA CONSTRUCTION, INC.; GLOBE-OP DEVELOPMENT, LLC; DILIP BAROT; NAIMISHA BAROT (R4 GL ACQUISITION LLC v. GLORIETA LLC; NEW VISION GLORIETA, LLC; CREATIVE CHOICE HOMES, INC.; NAIMISHA CONSTRUCTION, INC.; GLOBE-OP DEVELOPMENT, LLC; DILIP BAROT; NAIMISHA BAROT) is published on Counsel Stack Legal Research, covering District Court, S.D. New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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R4 GL ACQUISITION LLC v. GLORIETA LLC; NEW VISION GLORIETA, LLC; CREATIVE CHOICE HOMES, INC.; NAIMISHA CONSTRUCTION, INC.; GLOBE-OP DEVELOPMENT, LLC; DILIP BAROT; NAIMISHA BAROT, (S.D.N.Y. 2026).

Opinion

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

------------------------------X

R4 GL ACQUISITION LLC,

a Delaware limited liability

company, MEMORANDUM AND ORDER

Plaintiff, 25 Civ. 944 (NRB)

- against –

GLORIETA LLC, a Florida limited liability company, NEW VISION GLORIETA, LLC, a Florida limited liability company, CREATIVE CHOICE HOMES, INC., a Florida corporation, NAIMISHA CONSTRUCTION, INC., a Florida corporation, GLOBE-OP DEVELOPMENT, LLC, a Florida limited liability company, DILIP BAROT, an individual, and NAIMISHA BAROT, an individual,

Defendants.

NAOMI REICE BUCHWALD UNITED STATES DISTRICT JUDGE

Plaintiff R4 GL Acquisition, LLC (“plaintiff” or “R4”) brings this suit against defendants Glorieta, LLC, New Vision Glorieta LLC, Creative Choice Homes, Inc., Naimisha Construction, Inc., and Globe-Op Development, LLC (the “Corporate Defendants”), and Dilip and Naimisha Barot (the “Individual Defendants,” and together with the Corporate Defendants, “defendants”), seeking monetary damages and an accounting arising from defendants’ alleged mismanagement of Glorieta Gardens, a 330-unit multifamily affordable housing development in Opa-locka, Florida. In 2015, R4, Glorieta LLC, and New Vision Glorieta, LLC entered into a Partnership Agreement to form Glorieta Partners, Ltd. (the “Partnership”) to invest in and rehabilitate Glorieta Gardens and secure low-income housing tax credits. That relationship deteriorated in 2024, and plaintiff now asserts the following claims: (i) breach of the Partnership Agreement against Glorieta LLC and New Vision Glorieta, LLC (Count I); (ii) breach of the Guaranty Agreement against Creative Choice Homes, Inc., Naimisha Construction, Inc., Globe-Op Development,

LLC, and Dilip Barot (Count II); (iii) breach of fiduciary duty against Glorieta LLC and New Vision Glorieta, LLC (Count III); (iv) aiding and abetting breach of fiduciary duty against Dilip Barot, Naimisha Barot, and Naimisha Construction, Inc. (Count IV); (v) indemnification against all defendants (Count V); (vi) breach of the Development Agreement against Globe-Op Development, LLC (Count VI); and (vii) an accounting against Glorieta LLC and New Vision Glorieta, LLC (Count VII). Presently before the Court is the Individual Defendants’ motion to partially dismiss plaintiff’s Amended Complaint (“AC”) pursuant to Rules 12(b)(2) and 12(b)(6) of the Federal Rules of Civil Procedure. The Individual Defendants contend that (i) this

Court does not have personal jurisdiction over Naimisha Barot, and

-2- (ii) plaintiff has failed to state a claim for aiding and abetting breach of fiduciary duty against the Individual Defendants, necessitating dismissal of Count IV against them. For the reasons stated herein, the Individual Defendants’ motion is denied. I. Factual Background1 a. The Partnership and Relevant Agreements

Plaintiff is a Delaware limited liability company with its principal place of business in New York, New York. AC ¶ 19. Plaintiff is an affiliate of R4 Capital LLC, a nationwide

1 The Court’s account of plaintiff’s factual allegations is drawn from the Amended Complaint and the exhibits attached thereto, ECF No. 61 (“AC”), which the Court finds incorporated by reference. See DeLuca v. AccessIT Grp., Inc., 695 F. Supp. 2d 54, 60 (S.D.N.Y. 2010). The Court also considers plaintiff’s brief in opposition to the Individual Defendants’ motion to partially dismiss (“Opp.”), ECF No. 102, and the Declaration of Cary O. Aronovitz (“Aronovitz Decl.”), ECF No. 103. The Aronovitz Declaration attaches six exhibits: (i) an organizational chart of Glorieta Partners, Ltd.; (ii) an organizational chart of Globe-Op Development, LLC; (iii) a transcript of the deposition of Naimisha Barot; (iv) the declaration of Chris Zrowka; (v) the declaration of Fitzsandra White; and (vi) an email chain reflecting correspondence among plaintiff, Naimisha Barot, and non-party Jeff Staley. On a motion to dismiss for lack of personal jurisdiction pursuant to Rule 12(b)(2), the Court may consider all pleadings and accompanying declarations while “resolving all doubts in [plaintiff’s] favor.” DiStefano v. Carozzi N. Am., Inc., 286 F.3d 81, 84 (2d Cir. 2001). Plaintiff filed redacted versions of its opposition brief and the Aronovitz Declaration, while unredacted versions were filed under seal. ECF Nos. 102, 103, 106, 107. The redacted material references the percentage ownership interests in the various corporate entities at issue, as shown in the organizational charts, in plaintiff’s brief, and in Naimisha Barot’s deposition transcript. Because Ms. Barot’s ownership of and control over those entities are central to resolving the motion before the Court, and given that there is no sufficient basis to maintain these materials under seal, the unredacted, sealed versions of plaintiff’s brief and the Aronovitz Declaration, ECF Nos. 106-07, are hereby unsealed.

-3- affordable housing investor, lender, and developer that has invested in affordable housing projects since 2011. Id. ¶ 2. R4 Capital LLC’s business model is dependent on its ability to make substantial investments in the development and preservation of affordable housing to obtain low-income housing tax credits under Section 42 of the Internal Revenue Code. Id. In 2015, plaintiff formed Glorieta Partners, Ltd. with

defendants Glorieta LLC and New Vision Glorieta, LLC (the “Former General Partners”). Id. ¶ 3. The Former General Partners are both Florida limited liability companies. Id. ¶¶ 3, 22, 24. Three agreements were executed in connection with the Partnership’s formation, all dated September 1, 2015: (i) the Partnership Agreement, (ii) the Guaranty Agreement, and (iii) the Development Agreement. Id. ¶¶ 4, 5; see also ECF Nos. 61-1, 61-2, 61-3. Under the Partnership Agreement, plaintiff agreed to invest

up to $15,229,000 in capital to fund the rehabilitation of Glorieta Gardens as the Investor Limited Partner. Id. ¶ 4; Opp. at 1. Most of this capital was to be contributed by plaintiff in four installments upon the Partnership’s achievement of several development, occupancy, and financial stabilization targets, as well as the satisfaction of conditions necessary to obtain low- income housing tax credits. AC ¶ 48. Glorieta LLC and New Vision

-4- Glorieta, LLC served as General Partners and were required to handle the day-to-day management of Glorieta Gardens and oversee the rehabilitation. Id. ¶ 4. The Partnership Agreement contains a forum selection clause stating that “[e]ach Partner (i) irrevocably submits to the jurisdiction of any” New York state or federal court. Id. ¶ 32; ECF No. 61-1 § 16.17. The General Partners under the Partnership Agreement were Glorieta LLC and Globe-Op Development, LLC, and plaintiff was the Investor Limited Partner. ECF No. 61-1 at 1. Globe-Op Development, LLC signed the

Partnership Agreement acknowledging its obligations under the agreement as Developer and Guarantor. Id. at 117-20. Creative Choice Homes, Inc., New Vision Glorieta, LLC, Glorieta LLC, and Naimisha Construction, Inc. also signed the Partnership Agreement acknowledging their obligations under the agreement as Guarantors. Id. CT Services, LLC signed the Partnership Agreement acknowledging its obligations under certain provisions of the agreement as Management Agent. Id. Under the Development Agreement, the Partnership appointed

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R4 GL ACQUISITION LLC v. GLORIETA LLC; NEW VISION GLORIETA, LLC; CREATIVE CHOICE HOMES, INC.; NAIMISHA CONSTRUCTION, INC.; GLOBE-OP DEVELOPMENT, LLC; DILIP BAROT; NAIMISHA BAROT, Counsel Stack Legal Research, https://law.counselstack.com/opinion/r4-gl-acquisition-llc-v-glorieta-llc-new-vision-glorieta-llc-creative-nysd-2026.