Document for Dcr Mortgage 10 Sub 2, Llc v. 179 Ludlow Owners Llc, Sharon Sutton, Jesse Sutton, Board Of Managers Of The 179 Ludlow Street Condominium, New York State Dept. Of Taxation & Finance, New York City Dept. Of Finance, John Doe NOS. 1-25

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                                FILED: NEW YORK COUNTY CLERK 12/18/2023 10:04 PM                                                               INDEX NO. 850662/2023
NYSCEF DOC. NO. 13                                                                                       RECEIVED NYSCEF: 12/18/2023




          SUPREME COURT OF THE STATE OF NEW YORK
          COUNTY OF NEW YORK
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          DCR MORTGAGE 10 SUB 2, LLC                                                     :
                                                                                         :   Index No.
                                                   Plaintiff,                            :
                                                                                         :
                                                vs.                                      :
                                                                                         :   AFFIDAVIT OF EMERGENCY
          179 LUDLOW OWNERS LLC, SHARON SUTTON,                                          :   IN SUPPORT OF EX PARTE
          JESSE SUTTON, BOARD OF MANAGERS OF THE :                                           APPLICATION FOR
          179 LUDLOW STREET CONDOMINIUM, NEW                                             :   APPOINTMENT OF
          YORK STATE DEPT. OF TAXATION & FINANCE, :                                          TEMPORARY RECEIVER
          NEW YORK CITY DEPT. OF FINANCE, and “JOHN :
          DOE” NOS. 1-25,                                                                :
                                                                                         :
                                                   Defendants.                           :
                                                                                         :
          The Names of the “John Doe” Defendants Being                                   :
          Fictitious and Unknown to Plaintiff, the Persons and                           :
          Entities Intended Being Those Who Have Possessory                              :
          Liens or Other Interests in, the Premises Herein                               :
          Described.
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          STATE OF FLORIDA                                  )
                                                            ) ss.:
          COUNTY OF PINELLAS                      )

                    GREG BULLEIT, being duly sworn, deposes and says:

                    1.        I am a Senior Vice President of DCR MORTGAGE 10 SUB 2, LLC (“Plaintiff”),

          the lawful holder of the mortgage being foreclosed herein, and I have personal knowledge of the

          facts and circumstances set forth herein.

                    2.        I submit this affidavit of emergency in support of Plaintiff’s application for the

          appointment of a temporary receiver of the Mortgaged Property in this commercial mortgage

          foreclosure action based on a matured and unpaid loan secured by a mortgage in the original

          principal amount $1,950,000.00 dated as of November 27, 2017 (the “Mortgage”). A copy of the




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FILED: NEW YORK COUNTY CLERK 12/18/2023 10:04 PM                                                  INDEX NO. 850662/2023
NYSCEF DOC. NO. 13                                                                         RECEIVED NYSCEF: 12/18/2023




          Summons and Complaint with all exhibits is annexed hereto as Exhibit “l” (capitalized terms used

          herein without definition shall have the meanings assigned to them in the Summons and

          Complaint).

                   3.       As set forth in the affirmation of Plaintiff’s counsel, Plaintiff is entitled to the

          appointment of a receiver as of right and without notice to Borrower.

                   4.       In addition, the circumstances involved in this action require the immediate

          appointment of a receiver. Unless Plaintiff obtains the immediate appointment of a receiver,

          Plaintiff stands to suffer irreparable harm, to wit: loss, waste and diminution of value of Plaintiff’s

          collateral.

                   5.       The subject mortgage being foreclosed herein encumbers that certain parcel of real

          property located in the City of New York, County of New York, and State of New York, known

          as and by the address 179 Ludlow Street, Unit C, Manhattan, New York 10002, and designated as

          Block 0412, Lot 1101 on the Official Tax Map of the City of New York, Borough of Manhattan,

          County of New York, as more particularly bounded and described in Exhibit A, annexed as Exhibit

          “A” to the Complaint.

                   6.       The Mortgaged Property consists of a commercial condominium unit known as

          Unit C in the building known as 179 Ludlow Condominium and by the address 179 Ludlow Street,

          Unit C, Manhattan, New York 10002, and designated as Block 0412, Lot 1101

                   7.       The current lease dated as of April 21, 2023 (the “Lease”) that is in effect reflects

          current monthly rental income of $18,500.00 for the Mortgaged Property. A copy of the Lease is

          annexed hereto as Exhibit “2”.




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FILED: NEW YORK COUNTY CLERK 12/18/2023 10:04 PM                                                    INDEX NO. 850662/2023
NYSCEF DOC. NO. 13                                                                          RECEIVED NYSCEF: 12/18/2023




                   8.       The subject loan and the collateral are in danger as the Borrower has been collecting

          rent from the tenant yet failed to make any payments to repay the Loan which matured and became

          due and payable in full on the extended Maturity Date of April 27, 2023.

                   9.       Absent the appointment of a receiver, the rental income –– which serves as

          collateral for the subject Loan –– will continue to be lost.

                   10.      The appointment of a receiver is necessary to properly operate, manage and

          preserve the building and asset, as well as for the safety and well-being of the tenant at the

          Mortgaged Property.

                   11.      For these reasons, this application is submitted on an emergency basis for

          immediate relief. Plaintiff is entitled to the appointment of a receiver to protect the Mortgaged

          Property.

                   12.      Accordingly, it is respectfully requested that this Court appoint a receiver to collect

          the rents, profits, proceeds and any other income of the Mortgaged Property and to operate the

          Mortgaged Property, as is more fully set forth in the Order Appointing Receiver submitted

          herewith.

                   13.      No previous application for the relief sought herein has been made to this or to any

          other court or to any Justice thereof.




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FILED: NEW YORK COUNTY CLERK 12/18/2023 10:04 PM                                                                                                     INDEX NO. 850662/2023
NYSCEF DOC. NO. 13                                                                                                                     RECEIVED NYSCEF: 12/18/2023




                  WHEREFORE,                     it     is   respectfully      requested      that    an     order     be     made     appointing        a receiver



         during   the     pendency          of   this        action,    with   the   powers      nd    duties        as set    forth   in   the     accompanying


         order.




                                                                                     GREG      U      LEIT



         Sworn    to before           me this
        /3         of December              2023




                  otary          ub    ic




                             .     MY COMMISSION# HH 132184
                  *
                                      EXPIRES: May 22, 2025
                                  BondedBru NotmyPuNicUnderwiters




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