10 NYC Taxi Medallions
UCC Foreclosure Auction
September 28, 2023 at 10:00 am
September 28, 2023 at 10:00 am
10 NYC Taxi Medallions – Sold Individually
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.
You must be logged in to view Documents.
You must be logged in to send an Auction Inquiry.
Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
Richard B. Maltz, Licensed Real Estate Broker
By delivering their respective Offers and/or Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Medallions, the state of title thereof and laws, rules and regulations applicable thereto, and will rely solely thereon and on their own independent investigations and inspections of the Medallions in making their bids. Neither Maltz, the Seller nor any of their collective representatives makes any representations or warranties with respect to the permissible uses, quantity or condition of the Medallions. All Bidders acknowledge that they have conducted their own due diligence in connection with the Medallions 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 of the sale and Medallions. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Medallions, including without limitation physical attributes of the Medallions. All prospective bidders are urged to conduct their own due diligence prior to submitting an offer. Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.