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VC RTL Holdings LLC v. 244 Albany LLC

Plaintiff Has Standing in Action to Foreclose a Commercial Mortgage

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The following e-filed papers read herein:           NYSCEF Doc Nos. Notice of Motion/Order to Show Cause/Petition/Cross Motion and Affidavits (Affirmations)             13-18 Opposing Affidavits (Affirmations)     22-31 Reply Affidavits (Affirmations)           32 Upon the foregoing papers in this action to foreclose a commercial mortgage on the real property at 244 Albany Avenue in Brooklyn (Block 1244, Lot 86) (Property), defendants 244 Albany LLC (244 Albany or borrower) and Schneur Zalman Cohen (Cohen or guarantor) (collectively, defendants) move (in motion sequence [mot. seq.] one) for an order, pursuant to CPLR 3211 (a)(3), dismissing the complaint for lack of standing. Background On June 17, 2021, plaintiff VC RTL Holdings, LLC (VC RTL) commenced this action to foreclose a mortgage encumbering the Property by filing a summons, a complaint verified by counsel and a notice of pendency against the Property. The complaint alleges that on December 9, 2019, 244 Albany, the obligor, executed and delivered a note in the principal amount of $639,710.00 to Loanst LLC (Loanst), the original lender, which was secured by a mortgage encumbering the Property (complaint at

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