Multi-Family Building
Auction Postponed

UCC Foreclosure Auction

 Multi-Family Building

Ridgewood, Queens, NY

***AUCTION POSTPONED***

Details:

• 286 Onderdonk Avenue, Ridgewood, Queens, NY 11385
• Disposition of 100% of the membership interests of the Debtor in 286 Onderdonk LLC the owner of the land known as 286 Onderdonk Avenue, Borough of Queens, State of New York.
• The Property is a residential building.
• The Property is believed to consist of four (4) residential units. Located in Ridgewood, Queens.
• The Property is two blocks from the Dekalb Avenue MTA Station servicing the “L” Train.
• Diligence materials are available upon request and execution of standard confidentiality and non-disclosure agreement.
• BY VIRTUE OF DEFAULT under that certain Mezzanine Loan Note Promissory Note effective as of September 2020 (the “Note”) as secured by that certain Pledge and Security Agreement (the “Pledge Agreement”), pledging ownership interest (the “Pledged Membership Interests”) as defined in the Pledge Agreement, duly effective as of September 2020, by Perl Weisz (the “Pledgor”) by virtue of possession of that certain Share Certificate held in accordance with Article 8 of the Uniform Commercial Code of the State of New York (the “Code”) and by those certain UCC1 Filing Statements in favor of Secured Party all in accordance with Article 9 of the Code, Maltz Auctions (“Maltz”), under the direction of Richard B. Maltz or David A. Constantino (the “Auctioneer”), will conduct a public sale consisting of the Pledged Interests, via Zoom, on March 20, 2023 at 11:00 am in satisfaction of an indebtedness in the approximate amount of $1,700,000, including principal, interest on principal and reasonable fees and costs, plus default interest through March 20, 2023, subject to open charges and all additional costs, fees and disbursements permitted by law. The Secured Party reserves the right to credit bid. All sales are subject to a 6% buyer’s premium.
• The collateral sold will be subject to the Mortgage and Promissory Note of Clifton Savings Bank dated on or about February 10, 2016 in the original principal amount of $2,000,000.00.