Search for: "US REALTY HOLDINGS, LLC"
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28 Sep 2020, 1:51 am
“The Company is formed for any valid business purpose” Nine seemingly benign words in the garden-variety operating agreement of a realty holding LLC. [read post]
4 Nov 2022, 8:15 pm
” E & S Realty, LLC v Board of Appeals of the Village of Sands Point, 2022 WL 4361157 (NYAD 2 Dept. 9/21/2022) [read post]
22 Apr 2019, 3:46 am
In that case, the LLC’s accountant testified that the LLC’s monthly expenses exceeded by $12,000 its monthly revenues, and that but for one of the member’s loans to the LLC, the mortgaged property faced foreclosure. [read post]
21 Aug 2017, 3:33 am
In 2007, the owners of Ceres Chemical Co., in which the plaintiff had a 20% interest, formed Pedani Realty Services, LLC to acquire for $1.25 million a building in Westchester, New York, to serve as headquarters for Ceres. [read post]
21 Aug 2017, 3:33 am
In 2007, the owners of Ceres Chemical Co., in which the plaintiff had a 20% interest, formed Pedani Realty Services, LLC to acquire for $1.25 million a building in Westchester, New York, to serve as headquarters for Ceres. [read post]
29 Jun 2012, 1:54 pm
Pacific Coast Silks, LLC v. 247 Realty, LLC, 76 A.D.3d 167 (N.Y. [read post]
19 Apr 2021, 4:03 am
Were the realty-holding entity a close corporation rather than an LLC, such allegations would at least support a colorable, oppression-based claim for judicial dissolution under section 1104-a of the Business Corporation Law. [read post]
19 Nov 2012, 2:00 am
Liu, purporting to act on Lowbet’s behalf, in violation of the court’s October 2011 restraining order, sold the corporation’s realty for $1.6 million to an entity named 973 44th Street Realty LLC (“973 Realty”). [read post]
24 Sep 2018, 2:31 am
Not according to Manhattan Commercial Division Justice Saliann Scarpulla whose decision last month in Yu v Guard Hill Estates, LLC, 2018 NY Slip Op 32008(U) [Sup Ct NY County Aug. 15, 2018], dismissed a minority member’s claim for judicial dissolution of two family-owned, realty-holding LLCs under Section 702 of New York’s LLC Law. [read post]
15 Sep 2019, 8:18 pm
Realty Enterprises, LLC v. [read post]
14 Mar 2013, 7:22 am
This holding requires us to find error in the district court's dismissal of this case. [read post]
8 Jun 2015, 3:26 am
One of the them, Vella v JP&F Realty Holding, LLC, Short Form Order, Index No. 5545/12 (Sup Ct Nassau County Sept. 28, 2012), which I previously highlighted here, involved an LLC whose operating agreement contained a narrow purpose clause expressly for the acquisition of a specific parcel of realty to house the members’ separate business. [read post]
18 Dec 2017, 3:43 am
Like Seven Pines, Burntisland involved the post-merger valuation under BCL Section 623 of a dissenter’s small interest in a realty holding company — this time an LLC — that owns a 4-story, landmarked building leased to a private arts club under a long-term, triple net lease. [read post]
11 Jan 2021, 4:46 am
Now there’s a fourth, Bak v Rostek, 2020 NY Slip Op 33142(U) [Sup Ct Kings County Sept. 25, 2020], in which a 47.5% member of a single-asset realty-holding LLC sold his membership interest to the other 52.5% member for around $900,000 based on a $1.9 million valuation assigned by the buying member. [read post]
23 Sep 2019, 3:32 am
Along those lines, two weeks ago I wrote about a recent Kentucky appellate ruling affirming the dismissal of a minority member’s petition to dissolve a single-asset realty holding LLC. [read post]
20 Jun 2016, 3:16 am
The case involves a Connecticut LLC formed in 1995 as a single-asset realty company whose four members were Yvonne Cuseo holding a 57% membership interest and her son and two grandsons holding the balance. [read post]
13 Nov 2023, 4:07 am
I thought it might be useful to share with a wider audience the substance of my presentation. [read post]
15 May 2017, 3:32 am
It’s not even clear that the LLC’s sole realty asset couldn’t have been sold during the repayment period in light of the LLC operating agreement’s purpose clause which expressly contemplates conveyance of the realty. [read post]
15 May 2017, 3:32 am
It’s not even clear that the LLC’s sole realty asset couldn’t have been sold during the repayment period in light of the LLC operating agreement’s purpose clause which expressly contemplates conveyance of the realty. [read post]
7 May 2018, 3:28 am
The plaintiff also filed a lis pendens a/k/a notice of pendency against the LLC’s realty, a device authorized by NY CPLR § 6501 that puts any prospective purchaser or mortgage lender of the property on constructive notice of a potential judgment that “would affect the title to, or the possession, use or enjoyment of, real property. [read post]
