Rochester, N.Y. — The owner of the Wyndham Rochester Downtown hotel is facing a foreclosure lawsuit alleging more than $6.3 million is owed on loans tied to the State Street property, which the city shut down earlier this year over unresolved fire and building code violations.
Cogent Bank filed the lawsuit in Monroe County Supreme Court against hotel owner Nayan K. Patel, his companies Horizon Edge Hospitality LLC and Horizon Edge Capital LP, and several other parties with financial interests in the property.
According to the complaint, Cogent provided the borrowers with a $5 million U.S. Small Business Administration loan and an $850,000 conventional loan…