LLC v. 488 LLC (2010)

MEMORANDUM OF DECISION ON PLAINTIFF'S MOTION FOR A DEFICIENCY JUDGMENT

Before the court is the plaintiff's motion for a deficiency judgment.   The court heard the matter in a contested hearing on January 5, 2010.

The court finds that title to the subject premises vested in the plaintiff on September 18, 2009, that on that day the highest and best use of the subject premises was as an apartment building, and that on that date the subject premises had a fair market value of $600,000.00

The court further finds that there is owing to the plaintiff on its mortgage debt the sum of $892,104.55, which sum includes an additional attorneys fee of $2,000.00 and an appraiser's fee of $2,000.00, allowed on this date, less the fair market value of the subject premises established at $600,000.00, for a present balance due to the plaintiff of $292,104.55.

Accordingly, a deficiency judgment in the amount of $292,104.55 may enter in favor of the plaintiff and against the defendants 488 Chapel Street Associates, LLC, and David W. Nyberg.

William L. Hadden, Jr.

Judge Trial Referee

Hadden, William L., J.