Preview
FILED: KINGS COUNTY CLERK 03/14/2024 09:25 AM INDEX NO. 507486/2024
NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 03/14/2024
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF KINGS
SHARESTATES INVESTMENTS LLC,
Plaintiff, FORECLOSURE SUMMONS
-against-
HI-RITE BUILDERS INC; KHOKAN MOSHAREF; NEW
YORK STATE DEPARTMENT OF TAXATION AND
FINANCE; NEW YORK CITY DEPARTMENT OF
FINANCE; “JOHN DOE #1- #50” and “MARY ROE #1-
#50”, the last two names being fictitious, it being intended to
name all other parties who may have some interest in or lien
upon the premises described in the complaint,
Defendants.
TO THE ABOVE-NAMED DEFENDANTS:
YOU ARE HEREBY SUMMONED and required to serve upon plaintiff’s attorneys an answer to
the complaint in this action within twenty days after service of this Summons, exclusive of the day of service,
or within thirty days after service is complete if the Summons is not personally delivered to you within the
State of New York. The United States of America, if designated as a defendant in this action, may answer or
appear within sixty days of service hereof. If you fail to answer, judgment will be taken against you for the
relief demanded in the complaint.
Trial is desired in the County of Kings. The basis of venue designated above is that the real property
that is the subject matter of this action is located in the County of Kings.
NOTICE
YOU ARE IN DANGER OF LOSING YOUR HOME
If you do not respond to this summons and complaint by serving a copy of the answer on the
attorney for the mortgage company who filed this foreclosure proceeding against you and filing the
answer with the court, a default judgment may be entered and you can lose your home.
Speak to an attorney or got to the court where your case is pending for further information
on how to answer the summons and protect your property. Sending a payment to your mortgage
company will not stop this foreclosure action.
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YOU MUST RESPOND BY SERVING A COPY OF THE ANSWER ON THE ATTORNEY FOR
THE PLAINTIFF (MORTGAGE COMPANY) AND FILING THE ANSWER WITH THE
COURT.
Dated: March 1, 2024
MCMICHAEL TAYLOR GRAY, LLC
By: s/ Gregory J. Sanda
Gregory J. Sanda, Esq.
Attorneys for plaintiff
3550 Engineering Drive; Suite 260
Peachtree Corners, GA 30092
(404) 474-7149
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SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF KINGS
SHARESTATES INVESTMENTS LLC,
Plaintiff, COMMERCIAL MORTGAGE
FORECLOSURE COMPLAINT
-against-
HI-RITE BUILDERS INC; KHOKAN MOSHAREF; NEW
YORK STATE DEPARTMENT OF TAXATION AND
FINANCE; NEW YORK CITY DEPARTMENT OF
FINANCE; “JOHN DOE #1- #50” and “MARY ROE #1-
#50”, the last two names being fictitious, it being intended to
name all other parties who may have some interest in or lien
upon the premises described in the complaint,
Defendants.
The plaintiff, complaining of the defendants, by its attorneys, McMichael Taylor Gray, LLC,
alleges as follows:
1. The plaintiff is a foreign limited liability company, duly formed and organized under the laws
of the State of Delaware.
2. Upon information and belief, the defendants listed in Schedules A and B of this complaint
have a claim to or some interest in the mortgaged premises, or some part thereof, that accrued subsequent
to the plaintiff’s mortgage, and are subordinate to the plaintiff’s mortgage.
3. Upon information and belief, defendants “JOHN DOE” and “MARY ROE” listed in the
caption are tenants, occupants, persons or corporations, having or claiming an interest in the premises
described in this complaint.
FIRST CAUSE OF ACTION
4. The plaintiff repeats and realleges all prior allegations as if fully set forth herein.
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5. Defendant Hi-Rite Builders Inc duly executed, acknowledged, and delivered to the plaintiff
the commercial debt instrument attached at Schedule C, which is a true and exact copy of the original
(the “Note”). The Note memorializes Hi-Rite Builders Inc’s promise to pay $530,000.00, with interest, to
the owner or holder of the Note, in accordance with its terms.
6. As security for the payment of the indebtedness memorialized in the Note, Hi-Rite Builders
Inc executed, acknowledged, and delivered to the plaintiff the commercial mortgage attached as Schedule
D (the “Mortgage”), which is a lien against the real property described in the Mortgage, located at 222
McKinley Avenue, Brooklyn, NY 11208 (the “Property”).
7. The Mortgage was recorded in the Office of the City Register for the City of New York, and
any applicable mortgage tax was paid.
8. The plaintiff is the sole, true, and lawful owner, assignee, and/or holder of Note and Mortgage
(cumulatively, the “Mortgage Loan”).
9. Hi-Rite Builders Inc failed to comply with the terms and conditions of the Mortgage Loan, and
defaulted thereunder, by failing to pay the principal, interest, taxes, assessments, water rents, insurance
premiums, escrow, and/or other charges that were due on October 1, 2023, and each payment coming due
thereafter, and/or by failing to perform a covenant contained in the Mortgage Loan.
10. The plaintiff elects to call due the entire amount secured by the Mortgage Loan.
11. To protect its security interest in the subject real property, the plaintiff has been, and/or may
be compelled during the pendency of this action to pay local taxes, assessments, water rents, insurance
premiums, F.H.A. or Veterans Administration premiums or charges, and other charges affecting the
mortgaged premises. As such, the plaintiff reserves its right to add any sums expended for these purposes,
with interest, to the sum otherwise due, and to deem those additional sums secured by the Mortgage Loan,
and adjudged a valid lien against the mortgaged premises.
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12. In the Mortgage Loan, Hi-Rite Builders Inc agreed to pay plaintiff’s reasonable attorneys’ fees
in connection with this action, which fees are deemed secured by the Mortgage, and a lien on the premises
prior to any right, title, claim, or interest in, to, or upon the mortgaged premises attaching or accruing
subsequent to the lien of the Mortgage.
13. The original lender advanced the loan proceeds in accordance with the terms of the Note, and
Hi-Rite Builders Inc received those proceeds.
14. The plaintiff shall not be deemed to have waived, released, or changed the election
hereinbefore made by reason of the payment, after the date of commencement of this action, of any and
all of the defaults mentioned herein; and such election shall remain effective until the costs and
disbursements of this action, and any future defaults under the Mortgage Loan occurring prior to the
discontinuance of this action, are fully paid.
15. There are no other pending proceedings to collect or enforce the Mortgage Loan, nor has any
part of the mortgage debt been collected as a result of any legal proceedings.
16. If applicable, the Mortgage is, and all times relevant was, in compliance with Banking Law §§
6-l, 6-m, and 595-a, and any rules and regulations promulgated thereunder.
17. RPAPL §§ 1304 and 1306, CPLR § 3012-b, and Banking Law § 9-x do not apply to this action
because the Mortgage Loan is not a home loan, as defined by statute.
SECOND CAUSE OF ACTION
18. The plaintiff repeats and realleges all prior allegations as if fully set forth herein.
19. Defendant Khokan Mosharef executed and delivered a Guaranty (the “Guaranty”), personally
guaranteeing the corporate borrower’s performance under the Mortgage Loan. A copy of the Guaranty is
attached at Schedule E of this complaint.
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20. Khokan Mosharef defaulted under the terms of the Guaranty based on the mortgagor’s default
on the Mortgage Loan as set forth above.
21. Based on this default, Khokan Mosharef is liable to the plaintiff for the amounts due under the
Mortgage Loan.
22. Schedules A through E of this complaint are expressly incorporated herein and made a part
hereof for all purposes, with the same force and effect as if they were fully set forth herein.
WHEREFORE, the plaintiff demands judgment
On the First Cause of Action:
a. Barring and forever foreclosing each defendant’s right, title, claim, lien, and equity of
redemption in and to the Property; and
b. Ordering the sale of the Property, according to law, and ordering that the moneys arising
from the sale be brought in to court, and then distributed to pay the expenses of the sale, the full balance
of the indebtedness, the costs and disbursements of the action, the plaintiff’s reasonable attorneys’ fees,
and any sums paid by the plaintiff, now or in the future, for insurance premiums, taxes, water rents, sewer
rents, or charges, costs, or expenses of any kind that are in any way related to the Property, with interest;
and
c. If requested by the plaintiff, appointing a receiver of the rents and profits of the Property;
and
d. If requested by the plaintiff, granting a money judgment against Hi-Rite Builders Inc for
any deficiency that may result after the foreclosure sale proceeds are applied to the outstanding debt,
unless discharged in bankruptcy; and
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e. Awarding the plaintiff such other and further relief the court deems just and proper.
And on the Second Cause of Action:
a. Granting a money judgment against Khokan Mosharef for any deficiency that may
result after the foreclosure sale proceeds are applied to the outstanding debt, unless discharged in
bankruptcy; and
b. Awarding the plaintiff such other and further relief the court deems just and proper.
Dated: March 1, 2024
MCMICHAEL TAYLOR GRAY, LLC
By: s/ Gregory J. Sanda
Gregory J. Sanda, Esq.
Attorneys for plaintiff
3550 Engineering Drive; Suite 260
Peachtree Corners, GA 30092
(404) 474-7149
5
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Preview
FILED: KINGS COUNTY CLERK 03/14/2024 09:25 AM INDEX NO. 507486/2024 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 03/14/2024 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF KINGS SHARESTATES INVESTMENTS LLC, Plaintiff, FORECLOSURE SUMMONS -against- HI-RITE BUILDERS INC; KHOKAN MOSHAREF; NEW YORK STATE DEPARTMENT OF TAXATION AND FINANCE; NEW YORK CITY DEPARTMENT OF FINANCE; “JOHN DOE #1- #50” and “MARY ROE #1- #50”, the last two names being fictitious, it being intended to name all other parties who may have some interest in or lien upon the premises described in the complaint, Defendants. TO THE ABOVE-NAMED DEFENDANTS: YOU ARE HEREBY SUMMONED and required to serve upon plaintiff’s attorneys an answer to the complaint in this action within twenty days after service of this Summons, exclusive of the day of service, or within thirty days after service is complete if the Summons is not personally delivered to you within the State of New York. The United States of America, if designated as a defendant in this action, may answer or appear within sixty days of service hereof. If you fail to answer, judgment will be taken against you for the relief demanded in the complaint. Trial is desired in the County of Kings. The basis of venue designated above is that the real property that is the subject matter of this action is located in the County of Kings. NOTICE YOU ARE IN DANGER OF LOSING YOUR HOME If you do not respond to this summons and complaint by serving a copy of the answer on the attorney for the mortgage company who filed this foreclosure proceeding against you and filing the answer with the court, a default judgment may be entered and you can lose your home. Speak to an attorney or got to the court where your case is pending for further information on how to answer the summons and protect your property. Sending a payment to your mortgage company will not stop this foreclosure action. 1 of 7 FILED: KINGS COUNTY CLERK 03/14/2024 09:25 AM INDEX NO. 507486/2024 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 03/14/2024 YOU MUST RESPOND BY SERVING A COPY OF THE ANSWER ON THE ATTORNEY FOR THE PLAINTIFF (MORTGAGE COMPANY) AND FILING THE ANSWER WITH THE COURT. Dated: March 1, 2024 MCMICHAEL TAYLOR GRAY, LLC By: s/ Gregory J. Sanda Gregory J. Sanda, Esq. Attorneys for plaintiff 3550 Engineering Drive; Suite 260 Peachtree Corners, GA 30092 (404) 474-7149 2 2 of 7 FILED: KINGS COUNTY CLERK 03/14/2024 09:25 AM INDEX NO. 507486/2024 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 03/14/2024 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF KINGS SHARESTATES INVESTMENTS LLC, Plaintiff, COMMERCIAL MORTGAGE FORECLOSURE COMPLAINT -against- HI-RITE BUILDERS INC; KHOKAN MOSHAREF; NEW YORK STATE DEPARTMENT OF TAXATION AND FINANCE; NEW YORK CITY DEPARTMENT OF FINANCE; “JOHN DOE #1- #50” and “MARY ROE #1- #50”, the last two names being fictitious, it being intended to name all other parties who may have some interest in or lien upon the premises described in the complaint, Defendants. The plaintiff, complaining of the defendants, by its attorneys, McMichael Taylor Gray, LLC, alleges as follows: 1. The plaintiff is a foreign limited liability company, duly formed and organized under the laws of the State of Delaware. 2. Upon information and belief, the defendants listed in Schedules A and B of this complaint have a claim to or some interest in the mortgaged premises, or some part thereof, that accrued subsequent to the plaintiff’s mortgage, and are subordinate to the plaintiff’s mortgage. 3. Upon information and belief, defendants “JOHN DOE” and “MARY ROE” listed in the caption are tenants, occupants, persons or corporations, having or claiming an interest in the premises described in this complaint. FIRST CAUSE OF ACTION 4. The plaintiff repeats and realleges all prior allegations as if fully set forth herein. 1 3 of 7 FILED: KINGS COUNTY CLERK 03/14/2024 09:25 AM INDEX NO. 507486/2024 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 03/14/2024 5. Defendant Hi-Rite Builders Inc duly executed, acknowledged, and delivered to the plaintiff the commercial debt instrument attached at Schedule C, which is a true and exact copy of the original (the “Note”). The Note memorializes Hi-Rite Builders Inc’s promise to pay $530,000.00, with interest, to the owner or holder of the Note, in accordance with its terms. 6. As security for the payment of the indebtedness memorialized in the Note, Hi-Rite Builders Inc executed, acknowledged, and delivered to the plaintiff the commercial mortgage attached as Schedule D (the “Mortgage”), which is a lien against the real property described in the Mortgage, located at 222 McKinley Avenue, Brooklyn, NY 11208 (the “Property”). 7. The Mortgage was recorded in the Office of the City Register for the City of New York, and any applicable mortgage tax was paid. 8. The plaintiff is the sole, true, and lawful owner, assignee, and/or holder of Note and Mortgage (cumulatively, the “Mortgage Loan”). 9. Hi-Rite Builders Inc failed to comply with the terms and conditions of the Mortgage Loan, and defaulted thereunder, by failing to pay the principal, interest, taxes, assessments, water rents, insurance premiums, escrow, and/or other charges that were due on October 1, 2023, and each payment coming due thereafter, and/or by failing to perform a covenant contained in the Mortgage Loan. 10. The plaintiff elects to call due the entire amount secured by the Mortgage Loan. 11. To protect its security interest in the subject real property, the plaintiff has been, and/or may be compelled during the pendency of this action to pay local taxes, assessments, water rents, insurance premiums, F.H.A. or Veterans Administration premiums or charges, and other charges affecting the mortgaged premises. As such, the plaintiff reserves its right to add any sums expended for these purposes, with interest, to the sum otherwise due, and to deem those additional sums secured by the Mortgage Loan, and adjudged a valid lien against the mortgaged premises. 2 4 of 7 FILED: KINGS COUNTY CLERK 03/14/2024 09:25 AM INDEX NO. 507486/2024 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 03/14/2024 12. In the Mortgage Loan, Hi-Rite Builders Inc agreed to pay plaintiff’s reasonable attorneys’ fees in connection with this action, which fees are deemed secured by the Mortgage, and a lien on the premises prior to any right, title, claim, or interest in, to, or upon the mortgaged premises attaching or accruing subsequent to the lien of the Mortgage. 13. The original lender advanced the loan proceeds in accordance with the terms of the Note, and Hi-Rite Builders Inc received those proceeds. 14. The plaintiff shall not be deemed to have waived, released, or changed the election hereinbefore made by reason of the payment, after the date of commencement of this action, of any and all of the defaults mentioned herein; and such election shall remain effective until the costs and disbursements of this action, and any future defaults under the Mortgage Loan occurring prior to the discontinuance of this action, are fully paid. 15. There are no other pending proceedings to collect or enforce the Mortgage Loan, nor has any part of the mortgage debt been collected as a result of any legal proceedings. 16. If applicable, the Mortgage is, and all times relevant was, in compliance with Banking Law §§ 6-l, 6-m, and 595-a, and any rules and regulations promulgated thereunder. 17. RPAPL §§ 1304 and 1306, CPLR § 3012-b, and Banking Law § 9-x do not apply to this action because the Mortgage Loan is not a home loan, as defined by statute. SECOND CAUSE OF ACTION 18. The plaintiff repeats and realleges all prior allegations as if fully set forth herein. 19. Defendant Khokan Mosharef executed and delivered a Guaranty (the “Guaranty”), personally guaranteeing the corporate borrower’s performance under the Mortgage Loan. A copy of the Guaranty is attached at Schedule E of this complaint. 3 5 of 7 FILED: KINGS COUNTY CLERK 03/14/2024 09:25 AM INDEX NO. 507486/2024 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 03/14/2024 20. Khokan Mosharef defaulted under the terms of the Guaranty based on the mortgagor’s default on the Mortgage Loan as set forth above. 21. Based on this default, Khokan Mosharef is liable to the plaintiff for the amounts due under the Mortgage Loan. 22. Schedules A through E of this complaint are expressly incorporated herein and made a part hereof for all purposes, with the same force and effect as if they were fully set forth herein. WHEREFORE, the plaintiff demands judgment On the First Cause of Action: a. Barring and forever foreclosing each defendant’s right, title, claim, lien, and equity of redemption in and to the Property; and b. Ordering the sale of the Property, according to law, and ordering that the moneys arising from the sale be brought in to court, and then distributed to pay the expenses of the sale, the full balance of the indebtedness, the costs and disbursements of the action, the plaintiff’s reasonable attorneys’ fees, and any sums paid by the plaintiff, now or in the future, for insurance premiums, taxes, water rents, sewer rents, or charges, costs, or expenses of any kind that are in any way related to the Property, with interest; and c. If requested by the plaintiff, appointing a receiver of the rents and profits of the Property; and d. If requested by the plaintiff, granting a money judgment against Hi-Rite Builders Inc for any deficiency that may result after the foreclosure sale proceeds are applied to the outstanding debt, unless discharged in bankruptcy; and 4 6 of 7 FILED: KINGS COUNTY CLERK 03/14/2024 09:25 AM INDEX NO. 507486/2024 NYSCEF DOC. NO. 1 RECEIVED NYSCEF: 03/14/2024 e. Awarding the plaintiff such other and further relief the court deems just and proper. And on the Second Cause of Action: a. Granting a money judgment against Khokan Mosharef for any deficiency that may result after the foreclosure sale proceeds are applied to the outstanding debt, unless discharged in bankruptcy; and b. Awarding the plaintiff such other and further relief the court deems just and proper. Dated: March 1, 2024 MCMICHAEL TAYLOR GRAY, LLC By: s/ Gregory J. Sanda Gregory J. Sanda, Esq. Attorneys for plaintiff 3550 Engineering Drive; Suite 260 Peachtree Corners, GA 30092 (404) 474-7149 5 7 of 7