Mixed-Use Building
UCC Foreclosure Auction

Details:

• Indirect Interest in the following property (the “Property“):

  731 Flatbush Avenue, Brooklyn, NY 11225:  The Property is believed to consist of 5,040 Sq Ft of Gross Building Area with Two Commercial & Two Residential Units.

• PLEASE TAKE NOTICE,  that in accordance with applicable provisions of the Uniform Commercial Code of the State of New York (the “Code”), by virtue of certain Event(s) of Default under that certain Ownership Interests Pledge and Security Agreement dated as of March 9, 2023 (the “Pledge Agreement”), executed and delivered by Jule Elizabth Petrusak (the “Pledgor”), and in accordance with it rights as holder of the security, IBI-EJ Falcon Investments LLC as successor to Flatbush1 Ave LLC and USAMST LLC (the “Secured Party”), by virtue of its possession of that certain original Share Certificate held in accordance with Article 8 of the Code and that 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: 731 Flatbush Ave 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 731 Flatbush Avenue, Brooklyn, New York 11225 (County: King, Section:15, Block:5055, Lot:5) (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 in the attached Notice of Sale), via virtual bidding, on September 5, 2025 at 11:00am, in satisfaction of an indebtedness in the approximate amount of $1,902,341.89, including principal and interest through September 5, 2025, plus reasonable fees and costs, subject to open charges and all additional costs, fees and disbursements permitted by law. The Secured Party reserves the right to credit bid.
• Bidder Qualification Deadline: September 4, 2025 by 4:00 pm. Executed Terms & Conditions of Sale along with a $179,000 deposit (to be submitted via wire transfer) are required for consideration by any interested party and submitted directly to Maltz Auctions. Requests for wire instructions should be sent to [email protected]. Virtual bidding will occur via zoom and login instructions will be emailed to all registered bidders.
• UNLIKE MANY UCC SALES THE MEMBER INTERESTS TO BE SOLD SECURE THE SENIOR MORTGAGE IN FAVOR OF SECURED PARTY