Penthouse Condo
UCC Foreclosure Auction

UCC Foreclosure Auctions

Penthouse Condo

Ultra Luxury Building – Units Sold Individually

Details:

• All of the ownership interests in the property owners of PH2 at 135 West 52nd Street, Midtown, Manhattan, NY 10019
• The total amount of the debt secured by the Collateral as of November 16, 2020 is $4,810,115.99
• PH2:
•    2,601 Sq Ft
•    3 BR & 3.5 BA
•    306 Sq Ft Terrace
• PH2 Auction Sale:
• COLLATERAL TO BE SOLD: All right, title, and interest of BTA Bank JSC (the “Debtor”) in and to (i) all of the ownership interests in Settlement Recovery 135 West PH2, Inc. (the “Corporation”), and all distributions, cash, instruments and other property from time to time received, receivable, or otherwise distributed in respect of or in exchange for any or all of such ownership interests, together with all voting rights, claims, powers, privileges, benefits, remedies, options, and rights of any nature which now or hereafter exist with respect to or on account of such ownership interests, including all such items under or pursuant to the documents and agreements relating to the formation, organization, and governance of the Corporation; and (ii) all proceeds of any of the foregoing (collectively referred to as the “Collateral“).
• PLEASE TAKE NOTICE that the above-identified Collateral will be sold through public auction (the “Sale“) on May 27, 2021 at 1:00 p.m. (previously scheduled for December 17, 2020, January 20, 2021, February 5, 2021, March 1, March 15, March 24, April 14, April 21 and May 6, 2021) via online-bidding, at the direction of Maltz Auctions (the “Auctioneer”) (Richard Maltz, DCA# 1240836 or David Constantino, DCA# 1424944), pursuant to the security interest and lien held by CF 135 Flat LLC, CF 135 West Member LLC and The Chetrit Group LLC (collectively, “Secured Party“) in the Collateral and its rights under a Pledge Agreement dated as of March 8, 2018, and all of the related and ancillary agreements incorporated by reference thereto, and which were executed by the Debtor.  The amount of the debt secured by the Collateral as of November 16, 2020 is $4,810,115.99.
• PLEASE TAKE FURTHER NOTICE that the Collateral will be sold in its entirety to a single purchaser “AS IS, WHERE IS,” with all liabilities, obligations, faults and without recourse, representation, warranty of guaranty, whether express or implied.
• Additional Information:
• PLEASE TAKE FURTHER NOTICE that the Sales are subject to a four percent (4%) premium (the “Buyer’s Premium“) payable by the successful bidder to cover Auctioneer’s fees.  The successful bidder(s) shall also pay all real estate/real property transfer taxes which may be imposed by the State of New York and by the City of New York (collectively, the “Transfer Taxes”) in addition to the bid amount(s). The sum of the high bid(s) at the Sale(s), the Buyer’s Premium and the Transfer Taxes shall be referred to as the “Purchase Price”.  Auctioneer reserves the right to verify consideration at any time before, during and after bidding and to resume or recommence the bidding in the event that proof of such consideration is not provided to the satisfaction of Auctioneer.
• PLEASE TAKE FURTHER NOTICE that online bidding will be made available for pre-registered bidders via Auctioneer’s online bidding App available for download in the App Store or on Google play and via desktop bidding at RemoteBidding.MaltzAuctions.com.  Bidder Qualification Deadline: Executed Terms & Conditions of Sale along with a $200,000 (the “Qualifying Deposit”) refundable deposit (to be submitted via wire transfer) must be received no later Wednesday, May 26, 2021 by 2:00 pm. in order for any interested party (other than Secured Party) to be considered.  Requests for the Terms & Conditions of Sale and for wiring instructions should be sent to: [email protected].
• PLEASE TAKE FURTHER NOTICE that potential bidders who so request will be provided access to a “data room” to allow them to perform due diligence regarding the Collateral.  Requests for access to the “data room” must be received no later than Tuesday, May 25, 2021 by 2:00 pm. in order to obtain such access. Debtor is invited to provide any financial statements or other relevant information relating to the Collateral for potential inclusion in the data room to [email protected].
• PLEASE TAKE FURTHER NOTICE that the successful bidder(s) (unless Secured Party or its assignee is the successful bidder) shall be required to pay within forty-eight (48) hours after the conclusion of the Sale(s) an amount equal to ten (10%) percent of the high bid realized at the Sale(s) minus the Qualifying Deposit plus the four (4%) percent Buyer’s Premium, which amount shall be paid by wire transfer to “Sukenik, Segal & Graff, P.C., as attorneys” (wire instructions shall be provided to the successful bidder), with the balance of the Purchase Price to be paid within sixty (60) days thereafter (or if such 60^th day is not a business day, on the first business day thereafter), TIME BEING OF THE ESSENCE as against the successful bidder.
• PLEASE TAKE FURTHER NOTICE that Secured Party reserves the right to set a minimum Purchase Price and/or credit bid all or any portion of its secured debt at the Sales. The Sales may be adjourned from time to time at the sole discretion of Secured Party. Any and all inquiries are directed to contact Maltz Auctions at (516) 349-7022.