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NWM CAPITAL, LLC v. SCHARFMAN

652191/15. 5044. 8264B. 8264A. 8264.

168 A.D.3d 624 (2019)

91 N.Y.S.3d 428

2019 NY Slip Op 00674

NWM Capital, LLC, Appellant-Respondent, v. Mark Scharfman et al., Respondents-Appellants.

Appellate Division of the Supreme Court of New York, First Department.

Decided January 31, 2019.

The limited partnership agreements provide that defendants can charge up to 6% of the rental collections as a management fee. This specific provision controls over the agreements' more general provision, relied on by plaintiff, requiring that, in providing services to the limited partnerships, defendants' fees be fair, reasonable, and customary (see Muzak Corp. v Hotel Taft Corp., 1 N.Y.2d 42, 46 [1956]).

To the extent the...

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