Appellate Division of the Supreme Court of the State of New York October 16, 2012 (Fairway Prime Estate Management, LLC v. First American International Bank)

*555In 2007, plaintiff, a developer, obtained a loan from United Commercial Bank (UCB) to purchase land located at 42-18/28 Bowne Street in Flushing, Queens, for the purpose of building a mixed residential and commercial use condominium on the property upon obtaining additional capital for the construction.