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Parkmerced Invs. LLC v. WeWork Cos. LLC

No Contract Breach; Document Clearly States Term Sheet Is Non-Binding

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The following e-filed documents, listed by NYSCEF document number (Motion 001) 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 23 were read on this motion to/for DISMISS. DECISION + ORDER ON MOTION Upon the foregoing documents, it is Defendant WeWork Companies LLC (WeWork) moves pursuant to CPLR 3211 (a) (1) and (7) to dismiss the complaint. Plaintiff Parkmerced Investors, LLC (Parkmerced) alleges (1) breach of contract; (2) breach of the covenant of good faith and fair dealing; and (3) promissory estoppel. (NYSCEF Doc. No. [NYSCEF] 6, Complaint

43-59.) The following facts are drawn primarily from the complaint and are assumed to be true for purposes of this motion. (See Kronos, Inc. v. AVX Corp., 81 NY2d 90, 92 [1993].) Additional facts are drawn from the documentary submission, the Term Sheet. This case involves a redevelopment of the Parkmerced neighborhood in San Francisco, California, originally designed in the early 1940s, consisting of approximately 3,221 residences and over 9,000 residents. (Id. 10.) WeWork is a corporation that provides shared office space and related services to businesses and individuals. (Id. 15.) Plaintiff alleges that in 2015 WeWork’s CEO, Adam Neumann, contacted Robert Rosania, the founder of Maximus Real Estate Partners, which was the company leading plaintiff’s redevelopment. (Id.

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