4 Commercial Buildings
UCC Foreclosure Auction
May 3, 2023 at 10:00 am
150/152/154/160 East 105th Street
Manhattan, NY 10029
UCC Foreclosure Auction
- Indirect Interest in 150/152/154/160 East 105th Street, New York, NY 10029
- 150-154 East 105 Street consists of three adjacent walk-up buildings erected ca. 1910, configured as a 33-unit SRO/hostel. The structures contain 8,280 SF total above grade (including finished walk-in basement area), and are situated on a total site area of 3,713 SF.
- 160 East 105 Street is a four-story and cellar walk-up building containing 4,800 SF, with four free-market apartments, situated on a 2,018 SF site. The building was substantially renovated between 2015 and 2018; a letter of completion from DOB was obtained in September 2019.
- Diligence materials are available upon request and execution of standard confidentiality and non-disclosure agreement.
- PLEASE TAKE NOTICE, that in accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, by virtue of certain Event(s) of Default under that certain Pledge and Security Agreement dated as of June 1, 2022 (the “Pledge Agreement”), executed and delivered by Santos Vilella (the “Pledgor”), and in accordance with it rights as holder of the security, 105th Street Mezz, LLC (the “Secured Party”), 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 virtue of those certain UCC-1 Filing Statement made in favor of Secured Party, all in accordance with Article 9 of the Code, Secured Party will offer for sale, at public auction, (i) all of Pledgor’s right, title, and interest in and to the following: Central Park Studios at Lexington LLC (the “Pledged Entity”), and (ii) certain related rights and property relating thereto (collectively, (i) and (ii) are the “Collateral”). Secured Party’s understanding is that the principal asset of the Pledged Entity is that certain fee interest in real property commonly known as (i) 150 East 105th Street, New York, NY 10029; (ii) 152 East 105th Street, New York, NY 10029; (iii) 154 East 105th Street, New York, NY 10029; (iv) 160 East 105th Street, New York, NY 10029 (collectively, the “Property”).
- Maltz Auctions (“Maltz”), under the direction of Richard B. Maltz or David A. Constantino (the “Auctioneer”), will conduct a public sale consisting of the Collateral (as set forth in Schedule A below), via online bidding, on May 3, 2023 at 10:00am, in satisfaction of an indebtedness in the approximate amount of $138,022.54, including principal, interest on principal, and reasonable fees and costs, plus default interest through May 3, 2023, subject to open charges and all additional costs, fees and disbursements permitted by law. The Secured Party reserves the right to credit bid.
- Subject to senior indebtedness in the unpaid principal amount of $2,645,212.99 and payoff amount through 5/3/2023 in the amount of $3,531,020.71.
Bidder Qualification Deadline: Monday, May 1, 2023 by 4:00 PM. Executed Terms & Conditions of Sale along with a deposit in the amount of ten (10%) of Bidders’ intended bid amount via wire transfer are required for consideration by any interested party.
Bid Delivery Location: Maltz Auctions, 39 Windsor Place, Central Islip, NY 11722.
Auction Date & Time: Wednesday, May 3, 2023 at 10:00 am EST.
Auction Location: Virtual Auction.
Terms & Conditions of Sale: See attached terms of sale for details.
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