SOHO DEVELOPMENT SITE

Auction by: Maltz Auctions

Bankruptcy Auction

Booming Luxury Retail & Residential District – Rare Opportunity Steps from World Class Shopping & Dining

Live Off-Site Auction

Began: Wednesday, February 15, 2017 at 2:00 PM EST

Location: Manhattan, NY

Details

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Bankruptcy Auction – United States Bankruptcy Court Southern District of New York

In Re: NORDICA SOHO LLC – Case # 16-11856 (SCC)

20,000+ Sq Ft Mixed-Use SOHO Development Site

Spectacular Corner Lot with 123’+ of Prime Street Frontage

Booming Luxury Retail & Residential District

Details:

  • 182-186 Spring Street (a/k/a 83 Thompson Street), SOHO, Manhattan, New York 10012
  • 4,083.90 Sq Ft Corner Lot with 123’+ Prime Street Frontage
  • Gross Buildable Floor Area Calculated at 25,570 Sq Ft (4,150 Sq Ft Cellar)
  • Booming High-End Retail District – (Adidas, Apple, Canada Goose, Chanel, Cipriani, Dior, Diesel, DSquared2, Fendi, Herve Leger, John Hardy, Louis Vuitton, Nicole Miller, Patagonia, Seven for all Mankind, Tiffany & Co. & Many Others)
  • 300′ to Spring Street Station (C & E Trains)
  • .3 Miles to Prince Street Station (R & W Trains)
  • .3 Miles to Canal Street Stations (A, C, E, 1 & 2 Trains)
  • .5 Miles to Broadway – Lafayette Station (B, D, F & M Trains)
  • Additional Information:
  • Borough: Manhattan   Block: 489   Lots: 23 & 25
  • Zoning: R7-2 with C1-5 Commercial Overlay
  • Frontage on Spring Street: 66.54′
  • Frontage on Thompson Street: 56.83′
  • Total Road Frontage: 123.37′
  • Annual Real Estate Taxes: $104,174
  • Click Here for Access to the Data Room

 

Inspections/Viewings: Available by appointment.

Bidder Qualification Deadline: Friday, February 10, 2017 before 4:00 pm.  See attached Bidding Procedures for details or call Richard Maltz (x202) for details. 

Auction Date & Time:  Wednesday, February 15, 2017 at 2:00 pm.  Only Qualified Bidders as defined in the Bidding Procedures are qualified to participate.

Auction Location:  Soho Grand Hotel, 310 W Broadway, New York, NY 10013.

Terms & Conditions of Sale/Bidding 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 $1,500,000 made payable to “Goldberg Weprin Finkel Goldstein LLP”.   Within 48 hours following the auction, Successful Bidder must post a deposit in the total amount of 12% of the high bid.  Closing must occur within 40 days following the auction.  Please download the complete Bidding Procedures. 

Buyer’s Premium:  A two (2%) 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.

  


Goldberg Weprin Finkel Goldstein LLP, Attorneys for the Chapter 11 Debtor and Debtor in Possession
Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
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 monetary liens 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 Bidders 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 bids. Neither Maltz, the Debtor, the Attorney for the Debtor 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 Debtor, the Attorney for the Debtor, 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 participating in the Public Auction.  Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.

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