August of 2007 Jay-Z purchased land located at 511 W. 21st St. with a $52 million senior loan from NexBank SSB. Then the real estate started to tank, so the bank tried to hand over the land to Highland Capital Management LP to avoid forclosure. In the complaint filed it states Hov the investment firm didn’t take the deal, which made Hov pay extremely high interest rates on the loan.

“This action arises out of the efforts by defendants to bleed additional funds from [the] plaintiff,” the paperwork read. “Defendants embarked on a bad faith course of conduct.”