1S REO Opportunity 1, LLC v. Shepard Towers LLC

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK
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1S REO OPPORTUNITY 1, LLC,
Plaintiff,
-against-
SHEPARD TOWERS LLC,
Defendant.
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MEMORANDUM & ORDER
25-CV-1710 (EK)(JRC)
ERIC KOMITEE, United States District Judge:
The Court has received Magistrate Judge Cho’s Report
and Recommendation (R&R) dated February 23, 2026. 	ECF No. 19.
Judge Cho recommends that I grant plaintiff’s motion for default
judgment. 	The R&R goes on to recommend entry of a final
judgment awarding damages and appointing a referee to conduct
the foreclosure and sale of 341 Shepherd Avenue, Brooklyn, New
York 11208 (also known as 341/343 Shepherd Avenue, Brooklyn, New
York 11208) (the “Subject Property”). 	Neither party has filed
objections and the time to do so has expired. 	Accordingly, the
Court reviews Judge Cho’s recommendation for clear error on the
face of the record. 	See Fed. R. Civ. P. 72(b) advisory
committee’s note to 1983 addition; accord State Farm Mut. Auto.
Ins. Co. v. Grafman, 968 F. Supp. 2d 480, 481 (E.D.N.Y. 2013).
Having reviewed the record, I find no error and
therefore adopt the R&R in its entirety. 	Thus, plaintiff’s
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motion for default judgment is granted. 	The Clerk of Court is
respectfully directed to enter final judgment appointing Mark L.
McKew, Esq. as referee to conduct the foreclosure and sale of
the Subject Property under the terms set forth in the proposed
Judgment of Foreclosure and Sale, ECF No. 18, and awarding
damages as follows:
1. $800,000.00 in unpaid principal; and
2. $573,664.14 in interest from June 2, 2022 through June
23, 2025, plus additional interest at a rate of $533.11
per day from June 24, 2025 until the entry of judgment.
SO ORDERED.
/s/ Eric Komitee
ERIC KOMITEE
United States District Judge
Dated: 	March 10, 2026
Brooklyn, New York
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