On September 13, 2022 a
Exhibit,Appendix
was filed
involving a dispute between
Fairbridge Real Estate Investment Trust, Llc
F K A Realfi Real Estate Investment Trust Llc,
and
Brookview Town House Llc
A K A Brookview Town Houses Llc,
Carl Orsini
A K A Carlos M. Orsini,
Cor Holdings Llc,
David Raven,
George Lumber & Building Material Inc.,
John Doe Company Nos. 1-100,
John Doe Corporation Nos. 1-100
And,
Key Bank
As Successor By Merger To First Niagara Bank, N.A.,
Little Falls Garden Apartments Llc,
New York State Department Of Taxation And Finance,
Robinhood Properties L.L.C.,
for Real Property - Mortgage Foreclosure - Commercial
in the District Court of Montgomery County.
Preview
FILED: MONTGOMERY COUNTY CLERK 06/15/2023 02:52 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 223 RECEIVED NYSCEF: 06/15/2023
4 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Multifamily Northeast Region
New York Regional Center
Jacob K. Javits Federal Building
I
4p 26 Federal Plaza, Suite 3214
New York, NY 10278-0068
Mr. Peter Scocchetti
Receiver
88 Cambridge Way
Lathan, NY 12110-5145
Dear Mr. Scocchetti:
SUBJECT: Project Name/Location: Little Falls Gardens Apartment- Little New York
Falls,
Contract Number: NY020012005
New Bank Account for Project
We now need you to set up a bank account for the project. We request you submit HUD form
1199a. Both you and your management agent will need access to this account where HUD
subsidy payments will be deposited and where the project's bills will be paid. Any remaining
funds in this account should be transferred to the controlling entity once the Receivership ends.
In response to your Lender's letter showing $3.2 million due from the Owner, we have
determined that some of the $1 million of suspended HAP subsidy payments from January 2020
through March 2023 should be applied to the Lender's account. We are allowing the following
items to be paid to the Lender:
pefa ut nterest 2g/22 - 3 /23 $692,80442
Default Late fees $ 59,190.05
efewed DefauÍlnterest $ 75,Ö0Ö.UÖ
Real Estate Tax Payments $ 86,488.84
Total payrnents to ender $823,483.Ö1
The amount of the $253,408.99 ($1,076,892 - suspended HAP
remaining $823,483.01) subsidy
payments should be applied to the project's operating account. Before we can release any funds
the completed 1199a form must be returned to our office for review and acceptance.
If you have any questions, you may contact Eugene Walton at (212) 542-7787 or
Eugene.X.Walton@hud.gov.
Sincerely,
Margaret ingate
Resolution/Funding Specialist Branch Chief
Division - Federal Region 2
Multifamily Housing
The Multifamily Northeast Region consists of the New York Regional Center and the Baltimore and Boston Satellite Offices. Together,
they serve Connecticut, Delaware, the District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York
Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia.
www.hud.gov
Document Filed Date
June 15, 2023
Case Filing Date
September 13, 2022
Category
Real Property - Mortgage Foreclosure - Commercial
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Preview
FILED: MONTGOMERY COUNTY CLERK 06/15/2023 02:52 PM INDEX NO. EF2022-477 NYSCEF DOC. NO. 223 RECEIVED NYSCEF: 06/15/2023 4 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Multifamily Northeast Region New York Regional Center Jacob K. Javits Federal Building I 4p 26 Federal Plaza, Suite 3214 New York, NY 10278-0068 Mr. Peter Scocchetti Receiver 88 Cambridge Way Lathan, NY 12110-5145 Dear Mr. Scocchetti: SUBJECT: Project Name/Location: Little Falls Gardens Apartment- Little New York Falls, Contract Number: NY020012005 New Bank Account for Project We now need you to set up a bank account for the project. We request you submit HUD form 1199a. Both you and your management agent will need access to this account where HUD subsidy payments will be deposited and where the project's bills will be paid. Any remaining funds in this account should be transferred to the controlling entity once the Receivership ends. In response to your Lender's letter showing $3.2 million due from the Owner, we have determined that some of the $1 million of suspended HAP subsidy payments from January 2020 through March 2023 should be applied to the Lender's account. We are allowing the following items to be paid to the Lender: pefa ut nterest 2g/22 - 3 /23 $692,80442 Default Late fees $ 59,190.05 efewed DefauÍlnterest $ 75,Ö0Ö.UÖ Real Estate Tax Payments $ 86,488.84 Total payrnents to ender $823,483.Ö1 The amount of the $253,408.99 ($1,076,892 - suspended HAP remaining $823,483.01) subsidy payments should be applied to the project's operating account. Before we can release any funds the completed 1199a form must be returned to our office for review and acceptance. If you have any questions, you may contact Eugene Walton at (212) 542-7787 or Eugene.X.Walton@hud.gov. Sincerely, Margaret ingate Resolution/Funding Specialist Branch Chief Division - Federal Region 2 Multifamily Housing The Multifamily Northeast Region consists of the New York Regional Center and the Baltimore and Boston Satellite Offices. Together, they serve Connecticut, Delaware, the District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia. www.hud.gov