92-Key Hotel, 32% Complete
Bankruptcy Auction

Auction
May 10, 2016 at 1:00 pm
Property Location
139-141 Orchard Street
Lower East Side
Manhattan, NY 10002
Auction Location
Hotel on Rivington
107 Rivington Street
Manhattan, NY 10002
Photo Gallery
Details
Bankruptcy Auction – United States Bankruptcy Court Southern District of New York
In Re: D.A.B. Group LLC – Case # 14-12057 (SCC)
92 Key Boutique Hotel – Partially Constructed
16-Story Superstructure Complete – Spectacular City Views
Details:
- 139-141 Orchard Street, Lower East Side, Manhattan, NY 10002
- Block-Through Site with Frontage on Orchard Street & Allen Street
- Partially Constructed Hotel
- 16-Story Steel Superstructure Complete
- Plumbing & Electrical Partially Complete
- Fully Approved Development Site for Construction of 39,064 Sq Ft Hotel with 92 Keys
- Spectacular City Views – Neighborhood Recently Downzoned Assuring Permanently Unobstructed Views
- Potential Rooftop Lounge
- Approved Under C6-1 Zoning
- Area Zoning Recently Modified to C4-4A
- BSA Recently Passed Four Year Extension to Complete Construction & Obtain C of O
- Prime Location in Heart of Booming Local Market
- Perfect 100 Ratings on Redfin’s Walk & Transit Scores
- .2 Miles to F, J, M & Z Trains
- .4 Miles to B & D Trains
- Link to Aerial Video
- Additional Information:
- Borough: Manhattan Block: 415 Lots: 66 & 67
- Lot Size: 4,405 Sq Ft
- Lot Dimensions: 50.25′ x 87.67′
- Frontage on Orchard Street & Allen Street: 50.25′
- Annual Real Estate Taxes: $214,505
Inspections/Viewings: Available by appointment.
Bidder Registration: Tuesday, May 10, 2016 from 11:00 am – 1:00 pm (pre-registrations accepted, call Richard Maltz for details).
Bidder Qualification Deadline: Tuesday, May 10, 2016 before 1:00 pm. See attached Sales Procedures for details.
Auction Date & Time: Tuesday, May 10, 2016 at 1:00 pm. Only Qualified Bidders as defined in auction Sales Procedures are qualified to participate.
Auction Location: The Hotel on Rivington, 107 Rivington Street, New York, NY 10002.
Terms & Conditions of Sale/Sales Procedures: Property will be sold free and clear of all monetary liens. In order to register to bid, all prospective bidders must present a bank check in the amount of $2,000,000 made payable to “Silverman Acampora LLP Attorney Escrow IOLA Account”. Within 48 hours following the auction, Successful Bidder must post a deposit in the total amount of 12.5% of the high bid. Closing must occur within 30 days following court approval, unless Successful Bidder posts an additional 10% deposit which will provide Successful Bidder with a 30 day extension. Please download the complete Sale Procedures.
Buyer’s Premium: A 2.5% percent 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 one half (1/2%) percent 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.
Ronald J. Friedman, Chapter 11 Trustee
Silverman Acampora LLP, Attorneys for the Chapter 11 Trustee
Have Questions? Get In Touch
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David A. Constantino, Auctioneer
Richard B. Maltz, Licensed Real Estate Broker
Richard B. Maltz, Auctioneer
Phone (516) 349-7022 Fax (516) 349-0105