Waterfront Luxury Bldg
UCC Foreclosure Auction

Details:

• Indirect Interest in 214 Pier 1 Road, Stevensville, MD – Kent Island
• first mezzanine loan of approximately $2,100,000 secured by a pledge of the equity interests in the borrowing entity. The loan is secured against Bay Manor, a newly constructed (2024), luxury mixed-use community situated on Kent Island in Stevensville, Maryland — one of the most supply-constrained and demographically affluent submarkets on the Eastern Seaboard.  The heavy lifting is done. Bay Manor’s ground-floor retail component is 100% leased to a diverse roster of lifestyle and service tenants operating under multi-year leases, delivering stabilized commercial income from day one of ownership. The residential component is approximately 85% occupied, with the remaining units actively leasing at rates that confirm strong market demand. Critically, current in-place rents are meaningfully below achievable market levels, providing a compelling rent-growth runway for any investor acquiring the debt or underlying collateral.
• PLEASE TAKE NOTICE that WPCP BAY MANOR LLC, a Delaware limited liability company (the “Secured Party“), will conduct a public sale (the “Sale“) of the collateral described below pursuant to Sections 9-610, 9-611 and 9-613 of the Uniform Commercial Code as adopted in the State of New York (the “UCC”), the law governing the Loan Documents (perfection and priority of the security interest being governed by the Uniform Commercial Code as adopted in the State of Delaware).
• Date: August 3rd, 2026
• Time: 11 a.m. (Eastern Time)
• Location: The Sale will be conducted as a Public Virtual Zoom Auction. Interested parties should contact the Auctioneer (identified below) for access credentials.
• Auctioneer: Richard B. Maltz and David A. Constantino, Maltz Auctions, Inc., 39 Windsor Place, Central Islip, NY 11722, phone number 516-349-7022.
• Collateral to Be Sold: 100% of the membership interest (the “Pledged Collateral“) in and to 214 Bay Manor Member LLC, a Delaware limited liability company. 214 Bay Manor Member LLC is the sole member of 214 Bay Manor Owner LLC, a Delaware limited liability company, which is the fee owner of the real property known as 214 Pier 1 Road, Stevensville, Maryland 21666 (Queen Anne’s County), improved with a multi-family residential and retail complex (the “Property“).
• Debtor:214 BAY MANOR 21666 LLC, a Delaware limited liability company, having an address at 214 Pier 1 Road, Manor House Management Office, Stevensville, MD 21666.
• Secured Obligations: The Sale is being conducted to satisfy obligations owed by the Debtor to the Secured Party under that certain Mezzanine Loan Agreement, dated as of August 22, 2025, by and between the Debtor, as borrower, and the Secured Party, as lender, in the original principal amount of $1,850,000.00, as evidenced by that certain Promissory Note of even date therewith, together with all other obligations arising under or in connection with that certain Security Agreement dated August 22, 2025, that certain Intercreditor Agreement, dated as of August 22, 2025, by and between RMWC WA Credit LLC, as Senior Lender, and the Secured Party, as Mezzanine Lender (the “Intercreditor Agreement”), and the other related loan documents (collectively, the “Loan Documents”). Capitalized terms used but not defined herein shall have the meanings assigned to them in the Loan Documents.
• The Sale shall be subject to the existing senior mortgage loan in the original principal amount of $21,600,000.00 made by RMWC WA Credit LLC to 214 Bay Manor Owner LLC and all related senior loan documents, and to all other liens, encumbrances, conditions, easements and restrictions of record affecting the Pledged Collateral and the Property.