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Details

Bankruptcy Auction – United States Bankruptcy Court Eastern District of New York

In Re: LONG ISLAND BANANA CORP. – Case # 14-71443 (REG)

21,000 Sq Ft Produce Ripening Facility – Turn-Key Opportunity

Long-Term/Under-Market Leasehold Interest

Details:

  • 28 Williams Street, Lynbrook, NY 11563
  • Incredibly Rare Opportunity to Acquire a Fully Equipped, Centrally Located Produce Ripening Facility in Close Proximity to Five Boroughs
  • Selling the Leasehold Interest with the Expansive Build-out of 14 Ripening Rooms
  • PrimusLabs Certified Facility – Rating of 97% on November 19, 2013
  • 5 Loading Docks
  • 4 Drivein Doors
  • Base Rent as of January 1, 2015 is $18,000/Month (Inclusive of Taxes)
  • Lease Term is Through December 31, 2017
  • (3) 5-Year Options (Taxes are Tenant Responsibility in Option Period)
  • Successful Bidder Required to Post $75,000 Security Deposit (In Lieu of Personal Guarantee), Part of Which will be Returned During First Two Years of Lease, with Approximately Two Months Rent Remaining as Security After Approximately Two Years
  • Lease & Amendment to Lease Available for Download Under Documents Tab

Inspection/Viewing: Available by Appointment & Upon Request.

Auction Date & Time:  Thursday, December 18th at 11:00 am.  Pre-Registration required by December 16, 2014 at 3:00 pm.

Auction Location:  The offices of Westerman Ball Ederer Miller Zucker & Sharfstein, LLP, 1201 RXR Plaza, Uniondale, NY 11556.

Terms & Conditions of Sale: Sold free & clear of all liens, claims & encumbrances. In order to register to bid, all prospective bidders must present a bank check in the amount of $25,000 made payable to “Westerman Ball Ederer Miller Zucker & Sharfstein, LLP, as escrow agent”.  Please download the complete Terms and Conditions of Sale (available shortly).

Have Questions? Get In Touch

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R. Kenneth Barnard, Esq., Chapter 7 Trustee
Westerman Ball Ederer Miller Zucker & Sharfstein, LLP, Attorneys for the Chapter 7 Trustee
David R. Maltz, Auctioneer DCA# 762794
Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022  Fax (516) 349-0105

The Trustee, Attorneys for the Trustee and the Auctioneer do not guarantee the accuracy of any of the descriptions or any other information pertaining to the sale of this asset. All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.