Rodriguez v. GB Lodging, LLC

CourtDistrict Court, S.D. New York
DecidedFebruary 20, 2025
Docket1:22-cv-04370
StatusUnknown

This text of Rodriguez v. GB Lodging, LLC (Rodriguez v. GB Lodging, LLC) 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.

Bluebook
Rodriguez v. GB Lodging, LLC, (S.D.N.Y. 2025).

Opinion

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

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

DIONIS RODRIGUEZ, Plaintiff,

- against – MEMORANDUM AND ORDER

GB LODGING, LLC and ANOLAG 22 Civ. 4370 (NRB) JACPOT 2 JV LLC,

Defendants.

------------------------------X NAOMI REICE BUCHWALD UNITED STATES DISTRICT JUDGE This case arises out of a decade-long dispute between plaintiff Dionis Rodriguez (“Rodriguez” or “plaintiff”) and his former employer, defendant GB Lodging, LLC (“GB Lodging”), regarding certain Promote Participation Interests (“PPIs”) that plaintiff claims he is owed under two agreements executed in 2012 and 2013, respectively.1 This Court previously granted a motion by the six original defendants in this action to dismiss three of plaintiff’s nine causes of action. See Rodriguez v. GB Lodging, LLC, 2023 WL 5976223 (S.D.N.Y. Sept. 14, 2023). Now, following the completion

1 A “promote participation interest,” or “promote,” is a financial interest in the long-term capital gain of a real estate development. See “Carried Interest,” National Association of Industrial and Office Parks, https://www.naiop.org/advocacy/additional-legislative-issues/carried- interest/#:~:text=A%20%22carried%20interest%22%20(also,the%20investors%20in%2 2the%20partnership (last accessed Feb. 11, 2025). A promote participation interest is typically paid only if the property is sold at a profit that exceeds the agreed-upon returns to the investors. Id. -1- of limited factual discovery, the two remaining defendants, GB Lodging and Anolag Jacpot 2 LLC (“Anolag”) (together, “defendants”), bring a renewed motion to dismiss five of the six remaining causes of action on statute of limitations grounds or, in the alternative, for summary judgment on those claims. See ECF Nos. 47-51. For the reasons discussed herein, defendants’ motion

is not granted. BACKGROUND I. Factual Background2 The facts of this case have been described in detail in this Court’s previous decisions. See GB Lodging, LLC v. Rodriguez, No. 21 Civ. 1154 (NRB), 2022 WL 825492 (S.D.N.Y. Mar. 18, 2022); Rodriguez, 2023 WL 5976223 (S.D.N.Y. Sept. 14, 2023). Accordingly, we assume the reader’s familiarity with the litigation history and provide only the background relevant for resolution of the instant motion. a. 2012 Employment Agreement (the “Terms of Employment”) Plaintiff was employed by defendant GB Lodging for

approximately 18 months, beginning on February 1, 2012 and ending

2 The facts herein are drawn from plaintiff’s Amended Complaint and the exhibits attached thereto, ECF No. 17 (“Amended Complaint” or “AC”), which the Court finds incorporated by reference, DeLuca v. AccessIT Grp., Inc., 695 F. Supp. 2d 54, 60 (S.D.N.Y. 2010), as well as the parties’ Rule 56.1 statements, ECF Nos. 51, 53. For the purposes of the Court’s ruling on the instant motion, the Court draws all reasonable inferences in plaintiff’s favor. See Koch v. Christie’s Int’l PLC, 699 F.3d 141, 145 (2d Cir. 2012). -2- on September 24, 2013. See ECF No. 17 (“Amended Complaint” or “AC”) ¶ 13. On January 26, 2012, prior to starting his position as Executive Vice President of Acquisitions and Development, Rodriguez executed an employment agreement (the “Terms of Employment”) with GB Lodging. Id. ¶ 14. Three of his remaining claims are premised on language contained in Section III of this

agreement (the “PPI Provision”), which provided that he would receive “a 5% interest in the promoted participation earned and received by [GB Lodging] or its affiliate(s)” after certain pre- requisites had been met.3 See AC Ex. A (“Terms of Employment”) § III. This PPI Provision did not contain any language specifying when plaintiff’s PPI interests would vest or whether his entitlement to those interests would survive beyond the termination of his employment with GB Lodging. AC ¶ 20. Plaintiff contends that, pursuant to this provision, he is entitled to PPIs from two properties acquired by GB Lodging and/or its affiliates while he was employed by the company: (i) a property

3 Specifically, Section III of the Terms of Employment provided:

In the event that GB Lodging sponsors a fund, syndicated investment vehicle for purposes of acquiring a property (ies) or directly or indirectly acquires a property (ies) or makes an investment (s) located anywhere in the world, you will receive, without charge, a 5% interest in the promoted participation earned and received by GB Lodging, LLC or its affiliate(s) after (i) the full return of GB’s Principals’ (Bruce Blum and Allen Gross) capital investment and (ii) a return on GB’s Principals’ capital investment of 12%.

AC Ex. A (“Terms of Employment”) § III. -3- located at or about 5 Beekman Street, New York, New York (the “Beekman Street Property”), AC ¶¶ 148-61; and (ii) a property located at 61 Bond Street, New York, New York (the “Bond Street Property”), AC ¶¶ 162-72. b. 2013 Anolag Jacpot 2 JV LLC Profit Participation Agreement (the “Anolag Agreement”) Plaintiff also claims that he is entitled to PPI from a third property, located at Tchoupitoulas Street in New Orleans, Louisiana (the “Old No. 77 Property”), pursuant to a second agreement executed with GB Lodging and Anolag on September 16, 2013 (the “Anolag Agreement”). AC ¶¶ 44-52, 112-22. The parties do not dispute plaintiff’s entitlement to PPI under this agreement.4 See Rodriguez, 2023 WL 5976223, at *5-6.

c. The Parties’ Discussions Following Termination of Plaintiff’s Employment On September 24, 2013, Rodriguez terminated his employment with GB Lodging. AC ¶ 13. In the months that followed, he engaged in an extended negotiation with GB Lodging’s principals regarding two proposed agreements: (i) a separation agreement (the “Separation Agreement”), which would have provided him with severance pay and other benefits; and (ii) an agreement concerning his receipt of PPI in connection with the sale of the Beekman

4 While the parties do not dispute plaintiff’s entitlement to PPI, they dispute the amount of PPI that plaintiff is owed under the Anolag Agreement. Rodriguez, 2023 WL 5976223, at *5-6. However, this issue is not relevant to the motion pending before the Court. -4- Street Property (the “Beekman Participation Agreement”). ECF No. 53 (“Rule 56.1 Counterstatement”) at 13-14. Ultimately, the parties did not execute either agreement. Id. at 25-26. Approximately two and a half years later, on May 31, 2016, defendants sold their ownership interests in the Old No. 77 Property. AC ¶ 63. Plaintiff subsequently emailed Bruce Blum,

President of GB Lodging, to request information regarding the amount he would receive pursuant to the Anolag Agreement. AC ¶ 64. Although the parties exchanged emails regarding the sale and a proposed distribution of proceeds, plaintiff and defendants could not agree on the proper method for calculating the PPI plaintiff would receive under that agreement. AC ¶¶ 65, 69. On November 1, 2016, plaintiff’s prior counsel sent defendants a demand letter seeking: (i) the payment of PPI relating to the sale of the Old No. 77 Property; and (ii) payment of any other sums due to plaintiff under the Terms of Employment. See AC ¶¶ 69-70; AC Ex. D. More than four years later, on December 28, 2020, plaintiff’s

current counsel sent a letter to GB Lodging, again demanding the payment of PPI relating to the Old No. 77 Property and seeking information sufficient to enable plaintiff to assess the value of his PPIs in the Beekman Street and Bond Street Properties. See AC ¶¶ 81-82; AC Ex. E. At this time, plaintiff’s counsel also sent -5- defendants a proposed tolling agreement. See AC ¶ 83; AC Ex. E at 6-12.

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