Riskin v Cumberbatch

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Riskin v Cumberbatch 2020 NY Slip Op 32462(U) July 25, 2020 Supreme Court, Kings County Docket Number: 504200/2020 Judge: Bruce M. Balter Cases posted with a "30000" identifier, i.e., 2013 NY Slip Op 30001(U), are republished from various New York State and local government sources, including the New York State Unified Court System's eCourts Service. This opinion is uncorrected and not selected for official publication. [*FILED: 1] KINGS COUNTY CLERK 07/27/2020 11:32 AM NYSCEF DOC. NO. 92 INDEX NO. 504200/2020 RECEIVED NYSCEF: 07/27/2020 SUPREME COURT STATE OF NEW YORK COUNTY OF KINGS MARTIN RISKIN, GRACE TURKISHER a/k/a GRACE RISKIN, and NEL-DEL REALTY ASSOCIATES, LLC, Plaintiffs, Index No. 504200/2020 (NYSCEF CASE) Hon. Bruce M. Balter -against- July 25, 2020 Settlement Stipulation #1 "So Ordered," and Judgment NICOLE CUMBERBATCH, Defendant. 1 2 3 4 5 6 7 8 9 10 WHEREAS, by stipulation dated July 20-21, 2020, Nicole Cumberbatch individually, and by her undersigned counsel, Robert Rambadadt, Esq., acknowledged receipt of, and accepted for all purposes, the Order and Judgment of the Supreme Court, Kings County (Balter, J) dated February 4, 2020 and entered February 10, 2020, with February 10, 2020 Notice of Entry (see NYSCEF Docs. 1,11); the Order and Judgment of the Supreme Court, Kings County(Balter, J.), dated July 10, 2020, and entered July 13, 2020, with July 15, 2020 Notice of Entry (NYSCEF Docs. 87-88); and the Judgment, endorsed and entered as a Judgment by the Clerk of the Kings County Supreme Court on July 15, 2020, against Nicole Cumberbatch in the amount of $49,112,369,90, plus post-judgment interest at 9% per annum running from the July 15, 2020 entry of the judgment, with July 15, 2020 Notice of Entry. (NYSCEF Docs. 87, 89-90); and 11 12 13 14 15 WHEREAS, on July 22, 2020, Robert Rambadadt, Esq., with the knowledge, consent, direction, and authorization of Nicole Cumberbatch, sent a letter application to the Clerk of the Appellate Division, Second Department, seeking to withdraw all pending appeals - assigned Appellate Division Docket Nos. 2019-04523, 2020- 01954, 2020-01955, and 2020-01956, be withdrawn, with prejudice (NYSCEF Docs. 91); and now 16 17 IT IS HEREBY STIPULATED AND AGREED, by and amongst counsel for the parties, and defendant Nicole Cumberbatch individually: 18 19 20 21 22 23 24 25 The Order and Judgment of the Supreme Court, Kings County (Balter, J) dated February 4, 2020 and entered February 10, 2020; (NYSCEF Docs. 1,11); the Order and Judgment of the Supreme Court, Kings County (Balter, J.), dated July 10, 2020, and entered July 13, 2020 (NYSCEF Docs. 87-88); and the Judgment, endorsed and entered as a Judgment by the Clerk of the Kings County Supreme Court on July 15, 2020, against Nicole Cumberbatch in the amount of $49,112,369,90, plus post-judgment interest at 9% per annum running from the July 15, 2020 entry of the judgment (NYSCEF Docs. 89-91) all remain valid and "final" - "Law of the Case" - for all purposes, and in full force and effect, except for - the Settlement Stipulation #1 "carve outs" 1. Page 1 of 4 1 of 4 [*FILED: 2] KINGS COUNTY CLERK 07/27/2020 11:32 AM NYSCEF DOC. NO. 92 1 2 3 4 5 6 7 8 9 10 11 12 INDEX NO. 504200/2020 RECEIVED NYSCEF: 07/27/2020 and/or "reductions," all of which are to be narrowly and strictly construed, which are agreed-to herewith by Nicole Cumberbatch, and undersigned counsel for all parties (Settlement Stipulation #1 Carve-Outs and/or "Reductions") - each a material term (that must be honored, to avoid a "snap back" of original Judgments entered in this case), and critically - pursuant to a joint-motion by the parties per CPLR 3025 ( C) to conform the pleadings to the proof and desired result herein: A. The July 10. 2020 Judgment (NYSCEF Doc 87 & 89)- with $17 ,500,000 in tort damages, leaving aside the pre-judgment 9% statutory interest and post-judgment statutory interest, is now non-taxable "pain & suffering," and PlaintiffNel-Del Realty Associates, LLC, a "disregarded entity" for Tax purposes, is now, as of July 23, 2020, substituted with individuals, Martin Riskin and Ravi Batra, each an "actual person," to be shared as they may/have decide(d), who each "suffered" the emotional harm, distress and injury that the Court-Awarded $17 ,500,000 Damages Judgment now indemnifies; 23 24 25 26 27 28 29 30 B. Said amended-Tort Damages Judgment of $17,500,000, without any interest, is now settled for a reduced amount of $4, 750,000, to be paid by Nicole Cumberbatch as follows: 1. $100,000 (Cashier Check, dated July 25, 2020), and received by Ravi Batra; 2. All net proceeds - expected to be $650,000 - are to be paid to Ravi Batra at the Closing- from the sale of the 3-familymixed use property at 1553 Eastern Parkway Brooklyn, NY, currently owned by Nicole Cumberbatch; said property to be marketed - at 5% brokerage - by Rabbi Jeffery ("Yitchok) Waldman, a dear friend of Ravi Batra (and who provides Talmudic Consultations to him) for over twenty years, and a dear friend of Martin Riskin, or, a different real estate broker, in sole discretion of the parties' counsel; Contract of Sale to be prepared by Robert M. Rambadadt, Esq., as counsel for Cumberbatch, with all necessary services, including, copying Ravi Batra on all documents, and scheduling a Closing of Title at a mutually agreeable date; the sales proceeds are net of brokerage, and $2,500 closing legal fees of Mr. Rambadadt; this property has a First Mortgage with J.P. Morgan Chase; if there is a surplus beyond the expected $650,000 net proceeds, the excess will go to reduce the "Balloon Payment," as defined below; 3. $27,777.78 - monthly- starting October 1, 2020, for each and every consecutive month, for a total of 144 months (12 years in all, or a total of $4,000,000.32, with the last payment on September 1, 2032); Total "Pain & Suffering" Judgment of$ l 7,500,000 is settled for the reduced timely-paid amounts of $100,000 + $650,000 + 4,000,000.32 = 4,750,000.32; 31 32 33 34 35 36 37 38 39 40 C. Rent-to-Own with a Balloon (or, suffer a "snap back") (NYSCEF Doc 1) - 764 Nostrand Avenue, Brooklyn NY: 1. Cumberbatch agrees to be a Triple Net Tenant of this mixed use property with 2 apartments and a restaurant, "Gloria's In & Out 3," a sole proprietorship owned by Cumberbatchand pay a rent of $2,222.22, starting October 1, 2020, for a total of 144 months (12 years in all, or a total of$319,999.68, with the last payment on September 1, 2032, PLUS a Balloon Payment of $2,000,000.00 on September 1, 2032); Triple Net Tenant Cumberbatch- must- insure property and title for $2,320,000, and have at least $2,000,000 Commercial General Liability Insurance, including "Umbrella coverage," in the name of Cumberbatch AND Nel-Del Realty Associates, LLC, Martin Riskin and Ravi Batra, and timely pay all Real Estate taxes, Water, Sewer, Insurance 13 14 15 16 17 18 19 20 21 22 Page 2 of 4 2 of 4 11t~-- [*FILED: 3] KINGS COUNTY CLERK 07/27/2020 11:32 AM NYSCEF DOC. NO. 92 INDEX NO. 504200/2020 RECEIVED NYSCEF: 07/27/2020 1 2 3 make all repairs of each and every kind to be violation-free per the NYC Building Code; Cumberbatch agrees to notify all persons, entities and government departments - that she is NOT "Nel-Del Realty Associates, LLC" - but a tenant; 4 5 6 7 8 9 10 11 12 13 2. ifthe Balloon Payment of $2,000,000 is paid, Nel-Del shall transfer Fee Simple Absolute title to 764 Nostrand Avenue Brooklyn property with a Quit Claim Deed to Nicole Cumberbatch; 3. Cumberbatch can sell/assign her "Rent-to-Own with a Balloon (or, suffer a "snap back"), at anytime subject to the sole discretion ofNel-Del, and its terms for consent, which may be unreasonably withheld - driven by, without limitation, concerns about creditworthiness, and risk of collection; 4. "Snap back" - if any payment required per this Stipulation is not made, Title will not transfer, and will remain with Nel-Del, and the Tort Damages Judgment, in it full amount, less credit for all payments, will "snap back,' as amended herein pursuant to CPLR 3025( c) motion; 14 15 16 D. Any and all transfers of title- of 1553 Eastern Parkway, Brooklyn NY, AND later, of 764 Nostrand Avenue - are pursuant to Court Order, and as such, free of any Transfer Taxes; 17 18 19 20 21 22 23 24 25 26 E. Cumberbatch may buy lottery tickets - but any winning over $25,000, shall be shared 5050 by her with Nel-Del; f. in summary, the 764 Nostrand Avenue property will be owned by Nicole Cumberbatch if she honors all of her reduced-herein obligations under the Tort Damages Judgment, and pays the amounts specified above. g. The Court continues to have general jurisdiction, and personal jurisdiction, over Nicole Cumberbatch, Martin Riskin, Ravi Batra, and Nel-Del Realty Associates, LLC, until this "So Ordered" Settlement Stipulation #1, and Judgment has been satisfied - in the reduced amount, or in the full-amount, if "snap back" occurs. 27 28 29 30 31 32 33 34 35 36 37 38 39 40 2. Non-Waiver Clause. All rights and remedies available to the plaintiff JudgmentCreditor are expressly reserved, and it is agreed that all such rights and remedies remain in full force and effect. To the extent that any "accommodation" is made above and beyond what is agreed-to in ~1 above at any subsequent time, other than a further "settlement stipulation #," such accommodation(s) shall not now, or at any other time, cause any dilution, permanent or limited, of the original rights of the Judgment-Creditor, as amended by a "numbered" Settlement Stipulation. It is expressly and unconditionally agreed that negotiating with Nicole Cumberbatch and/or her authorized representatives, and/or permitting any "accommodation(s)"to Nicole Cumberbatch and/or her authorized representatives at any time, the plaintiff Judgment-Creditor shall not be considered a waiver of plaintiff Judgment-Creditor's rights or deprive the plaintiff Judgment-Creditor of all rights and remedies. Nothing contained herein shall constitute a waiver or limitaton on the part of the plaintiff Judgment-Creditor to insist upon compliance by Nicole Cumberbatch and/or her authorized representatives with all obligations pursuant to this agreement, any past or subsequent agreement, and all of Orders and Judgments referenced herein at the "Whereas Clause" and at ~ 1, supra. 41 Page 3 of 4 3 of 4 [*FILED: 4] KINGS COUNTY CLERK 07/27/2020 11:32 AM NYSCEF DOC. NO. 92 INDEX NO. 504200/2020 RECEIVED NYSCEF: 07/27/2020 1 2 3 4 3. Court's Continuing Jurisdiction to Effectuate its Orders of February 4, 2020 and July 10, 2020. Pursuant to ifl 0, page 19 of the July 10, 2020 Order and Judgment (NYSCEF Doc 87), Supreme Court continues to enjoy full jurisdiction over this matter, and the parties and their respective counsel of record. 5 Dated: July 25, 2020 6 7 State ofNew York) County of New Y or 8 9 10 11 12 13 14 15 16 On the2Sflaay of July in the year 2020, before me, the undersigned notary public, personally appeared NICOLE ton oved to me on the basis of satisfactory evidence to be the individual CUMBERBATCH, personally kno whose name is subscribed to the i ' ·n · · ment and acknowledged to me that she executed the same in her capacity, and that by her signa · ent, NICOLE CUMBERBATCH executed the instrument. ROBER:r RAM'BABAOT Notary Publtc. State of New YOftc No.02RA6125132 Quallfled In New YOftt County, • / CommlPIOn Expna June 9, 20..x 17 18 19 20 21 22 23 24 25 26 27 28 29 obert Rambadadt, Esq. 20 West 20th Street, 2nct Floor New York, NY 10011 (646) 450-8049; Fax: (646) 450-8049 E-mail: rrambadadt@ramba-law.com SO ORDERED, ENTER, FORTHWITH, ~~.~ Hon. Bruce M. Balter Justice, New York State Supreme Court Page 4 of 4 4 of 4

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