1 NYC TAXI MEDALLION
UCC Foreclosure Auction
December 7, 2020 at 11:00 am
UCC Foreclosure Auction
NYC Taxi Medallion
- 1 NYC Taxi Medallions
- Medallion # 8T19
- Sold Free & Clear of All Monetary Liens
- $65,000 Minimum Bid
Bidder Qualification Deadline: Friday, December 4, 2020 before 4:00 pm. See attached Terms & Conditions of Sale
Auction Date & Time: Monday, December 7, 2020 at 11:00 am. Pre-Registration Required.
Auction Location: Virtual Auction – Credentials will be provided upon bidder qualification. Please Call Richard Maltz at 516-349-7022 x 202 with questions.
Terms & Conditions of Sale: Sold free and clear of all liens pursuant to Article 9 of the Uniform Commercial Code and the Medallions, will be transferred free and clear of the obligations relating the Taxi Improvement Fund and MTA Tax on the transfer of the Medallions comprising the collateral by the TLC (collectively, the “Liens”). In order to register to bid, all prospective bidders must present a bank check in the amount of $25,000 made payable to “Ellen M. Walker & Associates, P.C. as Attorneys”, signed Terms & Conditions of Sale and signed Online Bidding Form to Maltz Auctions at 39 Windsor Place, Central Islip, NY 11722. Please download the Notice of Sale and complete Terms & Conditions of Sale.
Buyer’s Premium: A Buyer’s Premium of six (6%) percent of the highest bid 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 may 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.
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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
By delivering their respective Offers, Bids and/or Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Assets, 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 Assets in making their bids. Neither Maltz, the Secured Party nor any of their collective representatives makes any representations or warranties with respect to the permissible uses, quantity or condition of the Assets. All Bidders acknowledge that they have conducted their own due diligence in connection with the Real Property and are not relying on any information provided by Maltz, the Secured Party, 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 Assets. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Assets, including without limitation physical attributes of the Assets. All prospective bidders are urged to conduct their own due diligence prior to submitting an offer or bid. Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.