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Mixed-Use Building
Bankruptcy Auction

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Auction

June 24, 2026 at 11:00 am

Online Bidding

Starts:
June 22, 2026 at 11:00 am

Ends:
June 24, 2026 at 11:00 am

Registration Deadline

June 23, 2026 at 4:00 pm
2026-06-24 11:00AM

Property Location

54 Webster Street
N. Tonawanda, NY 14120

Bid

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Details

United States Bankruptcy Court WDNY
In Re: WebsterNT LLC, – Case No.: 24-11436-CLB

26,900+ SQ Ft Mixed Use Building + Plus 14,000 Sq Ft Basement

3 Commercial & 4 Potential Residential Units

SEEKING STALKING HORSE BIDS

54 Webster Street, North Tonawanda, Niagara County, NY 14120

  • 26,900+ Sq Ft Mixed Use Building + Full 14,600+ Sq Ft Basement
  • Block-Through Building: Frontage on Webster & Manhattan
  • 3 Commercial Spaces (Fully Occupied)
  • 4 Residential Units Totaling 5,000+ Sq Ft (Stalled Renovation – Vacant)
  • Situated in the heart of the Revitalized Webster Street Entertainment/Shopping District & Revitalized Waterfront
  • surrounded by Specialty Shopping, Restaurants, Entertainment, Bars & Arts and Cultural Establishments
  • Across Street from Riviera Theater
  • 12 Miles to Niagara Falls State Park

First Floor:

  • Office Space (5,235 Sq Ft):
  • Currently Occupied by NYS Office of Mental Health
  • Current Term: Requires NDA
  • Current Base Rent: Requires NDA
  • Annual Escalations: Requires NDA
  • Renewal Option: (1) 5-Year Option with 2% Annual Escalations
  • 2 Retail Spaces (6,800 Sq Ft):
  • Restaurant (4,100 Sq Ft):
  • Current Term: September 1, 2025 – August 31, 2030 (5-Year Lease)
  • Current Base Rent: $4,500 Per Month ($54,000 Annual)
  • Annual Escalations: 3% Per Annum
  • Renewal Option: (1) 5-Year Option with 3% Annual Escalations
  • Cafe Monthly Rent: (2,900 Sq Ft on First Floor & 200 Sq Ft Allocated to Storage only)
  • Current Term: December 1, 2025 – November 30, 2030 (5-Year Lease)
  • Current Base Rent: $4,500 Per Month ($54,000 Annual)
  • Annual Escalations: 3% Per Annum
  • Renewal Options: (2) 5-Year Options with 3% Annual Escalations

Second Floor: East Side of Building (Stalled Renovations)

  • 4 Residential Units
    • 3 Units: 2 Bedrooms & 1 Bathroom (1,004 Sq Ft, 1,157 Sq Ft & 1,037 Sq Ft -Per Renovation Plans)
    • 1 Unit: 2 Bedrooms & 2 Bathrooms (1,370 Sq Ft – Per Renovation Plans)
    • Plumbing & Electrical Work in Early Stages of Completion
  • Rentable Space (Rear Of Building):
    • 4,200 Sq Ft (Per Renovation Plans)
    • Buildout Required
    • Freight Elevator in Place Serving Every Level (Repairs Needed)
    • Potential 2,000 Sq Ft Rentable Terrace Space (Over 1st Floor)
    • Potential Tenants Include: Bar, Night Club, Office space, Self Storage, Additional Residential & more

Lower Level Space:

    • 14,000 Sq Ft Total
    • 7,000 Sq Ft Rentable (Utilities, Sprinkler & Common Space Uses Remainder)
    • Accessible Via Street Level on West Side of Building
    • Freight Elevator Access

Additional Information:

  • Section: 185.37  Block: 1  Lot: 31
  • Building Frontage: 88.08′
  • Building Depth: 165′
  • Lot Size: 14,533 Sq Ft (.33+ Acre)
  • Public Water, Sewer, Gas & Electric
  • 3 Gas Meters (Expandable for Additional Residential & Commercial Tenants)
  • 4 Electric Meters (Each Existing Commercial Space & Basement) Plus 5 Additional Slots for Residential & Commercial Tenants
  • Fully Sprinklered Building (2nd Floor Installed, needs to be Connected to System)
  • Grease Collection/Pump Out System for Restaurant Located in Basement
  • Individual HVAC for Each Tenant
  • 14,685 SQ Ft Building Footprint (89′ x 165′)
  • Zoning: D2 (High Density DT)
  • Annual Real Estate Taxes: $10,749.77

Viewing: TBA.

Pre-Registration Required to Bid:  You must send in signed Terms & Conditions of Sale, signed Online Bidding Form, and a $130,000 deposit to be approved for bidding.  All items must be received by Maltz Auctions on or before Tuesday, June 23, 2026 at 4:00 PM.

Auction Date: Online-Only Bidding will open Monday, June 22, 2026 at 11:00 AM and is scheduled to close on Wednesday, June 24, 2026 at 11:00 AM.  Visit RemoteBidding.MaltzAuctions.com or download the Maltz Auctions App on the Apple Store or Google Play.

Bidding Process: If a bid is placed with less than one minute remaining, the bidding period will be extended so one minute remains for competing bids to be entered.  If any further bidding occurs, the extension timer will reset to one minute.  Once no further bidding activity occurs, the sale closes when the time runs out.

Terms & Conditions of Sale: Property will be sold free and clear of all monetary liens.  In order to register to bid, all prospective bidders must deliver a wire transfer or cashier’s check in the amount of $130,000 made payable to “Gleichenhaus, Marchese & Weishaar, PC as attorneys”, signed Terms & Conditions of Sale and signed Online Bidding Form to Maltz Auctions at 39 Windsor Place, Central Islip, NY 11722 by 4:00 PM on Tuesday, June 23, 2026. Please download the complete Terms and Conditions of Sale.

Buyer’s Premium: A six percent (6%) Buyer’s Premium 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 percent (2%) commission will be paid to any properly licensed Buyer 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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Gleichenhaus, Marchese & Weishaar, PC
Attorneys for the Chapter 11 Debtor and Debtor in Possession
Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022 Fax (516) 349-0105

The Real Property is being sold “AS IS” “WHERE IS”, “WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature, and free and clear of any liens, claims, or encumbrances of whatever kind or nature, with such liens, if any, to attach to the proceeds of sale in such order and priority as they existed immediately prior to the Closing, and the sale of the Real Property is subject to, among other things (a) any state of facts that an accurate survey may show; (b) any covenants, restrictions and easements of record; (c) any state of facts a physical inspection may show; (d) any building or zoning ordinances or other applicable municipal regulations and violations thereof; and (e) environmental conditions. By delivering their respective Deposits, all Potential Buyer acknowledge that they have had the opportunity to review and inspect the Real Property, 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 Real Property in making their offers. Neither Maltz, the Chapter 11 Debtor & Debtor in Possession, the Attorney for the Chapter 11 Debtor & Debtor in Possession nor any of their collective representatives makes any representations or warrantees with respect to the permissible uses of the Real Property including, but not limited to, the zoning of the Real Property.  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 Chapter 11 Debtor & Debtor in Possession, the Attorney for the Chapter 11 Debtor & Debtor in Possession, or their professionals.  The Real Property will be sold subject to any and all violations or conditions requiring corrective action.  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 Property.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation, environmental and physical condition of the Property.  All prospective bidders are urged to conduct their own due diligence prior to submitting an offer.  Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.