10 NYC Taxi Medallions
UCC Foreclosure Auction

Pre-Registration Required to Bid:  You must send in signed Terms & Conditions of Sale & a $10,000 deposit to be approved for bidding (additional info may be required pursuant to the Terms of Sale).  Acceptable forms of deposit are certified or bank check made payable to “DePalma Acquisition I LLC”, or wire transfer.  Persons wishing to attend the Auction must contact Reed Smith LLP, counsel to Lender (“Counsel”) at [email protected] at least two (2) business days prior to the scheduled Auction time to obtain login credentials for the video conference, and must provide (i) a copy of their driver’s license or other photo identification and (ii) an acknowledgment that they must pay the Deposit (as defined below) in the form of a certified or bank check or wire transfer of immediately available funds.

Auction Date: Thursday, September 28, 2023 at 10:00 am Eastern Time via video conference.

Terms & Conditions of Sale:  In order to register to bid, all prospective bidders must deliver a $10,000 deposit to be approved for bidding (additional info may be required pursuant to the Terms of Sale).  Acceptable forms of deposit are certified or bank check made payable to “DePalma Acquisition I LLC”, or wire transfer (instructions available upon request).  Deposits and Executed Terms & Conditions of Sale Should be Delivered to DePalma Acquisition I LLC, c/o Field Point Servicing LLC, 5 Greenwich Office Park, Suite 440, Greenwich, CT 06831.  Please download the complete Terms & Conditions of Sale.

Buyer’s Premium: A six percent (6%) 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 two (2%) percent commission will be paid to any properly licensed New York City Medallion Broker who registers a successful buyer in accordance with the Buyer Broker guidelines.  Please download the Broker Participation form for details.