The Appellate Division ruled that BLDG Oceanside, LLC could intervene in the foreclosure case, emphasizing its substantial interest in the outcome regarding lease termination.
The court acknowledged that BLDG claims it terminated the lease due to defaults, which would invalidate the leasehold mortgage Atlantic Avenue seeks to foreclose on.
The decision promotes judicial economy by allowing both the issues of lease validity and mortgage foreclosure to be addressed together in one case.
BLDG's intervention rights were affirmed, as per New York law, showing that the adverse effects on property interests justify participation in foreclosure proceedings.
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