Real Estate Investment Firm Sues Denihan Over Surrey Hotel

Law360, New York (July 24, 2014, 8:16 PM EDT) -- Real estate investment firm 2BSurrey LLC filed suit in Manhattan Supreme Court on Monday accusing Denihan Hospitality Group LLC of failing to sell a 50 percent stake in the ground lease at The Surrey hotel as it had promised under an agreement.

The firm, led by principals Ben Ashkenazy and Michael Alpert, alleges that it entered into an agreement with Denihan on July 29, 2013, under which the firm would purchase a 50 percent membership interest in 20 East 76th Street Co. LLC, the ground lessee for The Surrey.

But the firm claims Denihan obtained new financing for the transaction without...

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