Inspections/Viewings: Available by appointment.
Bidder Registration: Tuesday, May 10, 2016 from 11:00 am – 1:00 pm (pre-registrations accepted, call Richard Maltz for details).
Bidder Qualification Deadline: Tuesday, May 10, 2016 before 1:00 pm. See attached Sales Procedures for details.
Auction Date & Time: Tuesday, May 10, 2016 at 1:00 pm. Only Qualified Bidders as defined in auction Sales Procedures are qualified to participate.
Auction Location: The Hotel on Rivington, 107 Rivington Street, New York, NY 10002.
Terms & Conditions of Sale/Sales Procedures: Property will be sold free and clear of all monetary liens. In order to register to bid, all prospective bidders must present a bank check in the amount of $2,000,000 made payable to “Silverman Acampora LLP Attorney Escrow IOLA Account”. Within 48 hours following the auction, Successful Bidder must post a deposit in the total amount of 12.5% of the high bid. Closing must occur within 30 days following court approval, unless Successful Bidder posts an additional 10% deposit which will provide Successful Bidder with a 30 day extension. Please download the complete Sale Procedures.
Buyer’s Premium: A 2.5% 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.
Buyer Broker Participation: A one half (1/2%) percent commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines. Please download the Broker Participation form for details.
Ronald J. Friedman, Chapter 11 Trustee
Silverman Acampora LLP, Attorneys for the Chapter 11 Trustee