4,000 Sq Ft Loft Condo
UCC Foreclosure Auction

Details:

• indirect interest in 132-138 Mulberry Street a/k/a 138 mulberry street, Unit 3A, Little Italy, Manhattan, NY 10013
• disposition of 100% of the membership interests of the debtor in New York Cyprus Capital Markets LLC
• the property is a full-floor loft condominium
• live/work elevator building
• private keyed elevator opens to this magnificent space with exposed brick archways, hardwood floors & more
• ideally located in the heart of little italy
• .14 miles to j/n/q/r/z/6/w trains at canal street
• .19 miles to b/d train at grand street
• .23 miles to j/z train at bowery street
• .25 miles to 6 train at spring street
• 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 September 30, 2021 (the “Pledge Agreement”), executed and delivered by Ranjit Fernando (the “Pledgor”), and in accordance with it rights as holder of the security, 138 Mulberry Funder 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: New York Cyprus Capital Markets 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 132- 138 a/ka 132 a/k/a 138 Mulberry Street, Unit 3A, New York, New York 10013(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 virtual bidding, on June 29, 2023 at 11:00am, in satisfaction of an indebtedness in the approximate principal amount of $2,200,000.00 plus interest, default interest, reasonable fees and costs through June 29, 2023; subject to open liens, charges, costs and all additional amounts permitted by law.
• The Secured Party reserves the right to credit bid and will open the bidding with a $1,900,000.00 credit bid.
• Online bidding will be made available for pre-registered bidders via Maltz’s online bidding App available for download in the App Store or on Google play and via desktop bidding at RemoteBidding.MaltzAuctions.com
• $1,900,000 Opening Bid
• The underlying security agreement is a first mortgage.  this is NOT subject to a senior mortgage, but is subject to open real estate taxes in the appx amount of $67,671.25.