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COLONY NYRO PARTNERS v. WATERSIDE DEV. CORP.

No. 92 Civ. 9516 (VLB).

840 F.Supp. 15 (1993)

COLONY NYRO PARTNERS, L.P., Plaintiff, v. WATERSIDE DEVELOPMENT CORP., Kenneth R. Soskza, Joel Wallach, Carl Kamhi, Jemi Construction Corp., Levitt-Fuirst Assoc. Ltd., James Ford Plumbing and Heating, Inc., John Argyros, Marian Argyros, The People of the State of New York, Board of Managers of Villas on the Lake Condominium, Old Yorktown Village Community Association, Inc., Defendants.

United States District Court, S.D. New York.

December 13, 1993.

Attorney(s) appearing for the Case

Harvey Strickon, Leslie Plaskon, Paul, Hastings, Janofsky & Walker, New York City, for plaintiff.

S. Martin Gordon, Spring Valley, NY, for defendant Carl Kamhi.

Warren S. Agatston, New Rochelle, NY, for defendants John and Marian Argyros.

Julius W. Cohn, Cerrato, Sweeney, Cohn, Stahl & Vaccaro, White Plains, NY, for defendant Board of Managers.

Linda S. Charet, F.D.I.C., New York City, for the FDIC.

MEMORANDUM AND ORDER

BRIEANT, District Judge.

I

This mortgage foreclosure action presents questions relating to the appropriate timing of the foreclosure and sale of residential condominium units while litigation with respect to the priority of claims to the sale proceeds and other related matters remain unresolved.

This lawsuit involves foreclosure and sale of 39 of 135 condominium units known as Villas on the Lake Condominium (the "Villas...

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