Appellate Division of the Supreme Court of the State of New York October 18, 2011 (Harlem Suites, LLC v. 231 Norman Avenue, LLC)

*533All defendants except DCIU guaranteed that plaintiff would be repaid $1,750,000 plus interest no later than March 4, 2009. Their argument that two agreements entered into in September 2007 (the Refinancing Agreements) constituted a novation of the 2005 operating agreement, construction agreement, and guaranty (the Original Agreements) is without merit (see Water St. Dev. Corp.