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Security Agreement Sale

Indirect Equity Interest in 3 Manhattan Properties

Description:

  • 100% of the Membership Interests in Second Phoenix Holding LLC
  • Principal Asset is 100% of the Membership Interests in Second Phoenix Holding LLC, Which is the Owner of the Properties Located at:
  •    212 East 125th Street, New York, NY 10035 a/k/a Block: 1789   Lot: 45
  •    214/216 East 125th Street, New York, NY 10035 a/k/a Block: 1789   Lot: 43
  •    14 Second Avenue, New York, NY 10003 a/k/a Block: 442   Lot: 6
  • COLLATERAL TO BE SOLD: A 47.58% Percentage of Membership Interest in Second Phoenix Holding LLC (the “Company“) held by Harlem Phoenix Realty Corporation (“Harlem“) and a 52.42% Percentage of Membership Interest in the Company held by Kshel Realty Corp. (“Kshel“), including without limitation, Harlem’s and Kshel’s (i) interest in the capital of the Company; (ii) interest in all profits and distributions; (iii) all additional shares of stock of the Company acquired by Harlem and Kshel; (iv) certificates representing Harlem’s and Kshel’s interests in the Company; (v) all payments, if any, due to Harlem and Kshel; (vi) all of Harlem’s and Kshel’s rights, powers and remedies, as members of the Company arising from their ownership; and (vii) all of Harlem’s and Kshel’s rights as members of the Company to manage the affairs of the Company (collectively, the “Collateral“.)
  • The Collateral is Subject to Liens in the Approximate Amount of $12,833,010.23 as of October 1, 2017

Auction Date & Time:  Auction Postponed.

Buyer’s Premium: A ten (10%) percent Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.

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Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022 Fax (516) 349-0105

The Asset(s) is/are being sold “AS IS” “WHERE IS”, “WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature.  All Bidders acknowledge that they have conducted their own due diligence in connection with the sale and are not relying on any information provided by Maltz, the Seller, or their professionals.  The information contained herein was derived from sources deemed reliable, but is not guaranteed.  Most of the information provided has been obtained from third party sources and has not been independently verified.  It is the responsibility of the Buyer to determine the accuracy of all components and matters associated with the sale.  All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.  Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.