Nir Meir seeks to throw out Hamptons ejection suit

Former HFZ exec claims he has majority interest in LLC that owns home

New York /
Jan.January 15, 2021 02:24 PM
 Nir Meir Asks Court to Stop Eviction (Google Maps)

Nir Meir and 40 Meadow Lane (Google Maps)

 

Former HFZ Capital Group executive Nir Meir is asking a court to throw out a case seeking to eject him from his Hamptons home.

Lawyers tied to Monroe Capital, an HFZ lender, filed a lawsuit in Suffolk County Supreme Court in late December alleging that Meir is illegally occupying the property at 40 Meadow Lane. The suit claims that neither Meir nor his family may lease or occupy the home. Monroe, which recently foreclosed on an HFZ industrial portfolio, claimed it had a title to the Hamptons estate.

But a motion filed by Meir’s lawyer this week alleges there is documentary evidence to show that Meir controls the limited liability company that owns the property. The motion says HFZ had initial control of the entity, EAM 40 Meadow Lane LLC, but transferred 50 percent ownership to Meir in December 2013.

In March 2019, another company, EZL 40 Meadow Lane LLC — which lists Meir as the sole member — was formed to own and hold interests in the owner entity, the motion claims.

That same month, Meir allegedly transferred 50 percent of his ownership interest in EAM to EZL. The complaint alleges that on that same day, HFZ Capital transferred 45 percent of its remaining ownership interest in EAM to EZL.

In effect, the move gave Meir 95 percent control of the entity that owns the property and HFZ a 5 percent interest, the motion alleges.

Meir’s lawyer said in court filings that the initial complaint should be thrown out because it failed to state a cause of action.

Monroe Capital was HFZ’s lender on a national industrial portfolio. Earlier this month, the firm foreclosed on that portfolio, and HFZ lost its equity stake in those properties. The company also provided HFZ with an $18 million loan in 2017 that was supposed to mature in November, according to Monroe’s filing with the U.S. Securities and Exchange Commission.

Monroe Capital did not immediately respond to a request for comment.

The Hamptons home spans more than 6,600 square feet, with seven bedrooms and a swimming pool, records show. Last year, the owner of the property secured an $18.35 million mortgage from ConnectOne Bank.

The legal battle over the estate at 40 Meadow Lane comes at a difficult time for HFZ Capital, a once-prolific condo developer in NYC. Meir, a former principal, left the firm in December as it battled a slew of lawsuits from lenders and investors. The circumstances around Meir’s departure are not entirely clear.

A spokesperson for Meir declined to comment. HFZ did not respond to a request for comment.











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