3 Manhattan Properties
Security Agreement Sale

Security Agreement Sale

Indirect Equity Interest in 3 Manhattan Properties

Description:

• 100% of the Membership Interests in Second Phoenix Holding LLC
• Principal Asset is 100% of the Membership Interests in Second Phoenix Holding LLC, Which is the Owner of the Properties Located at:
•    212 East 125th Street, New York, NY 10035 a/k/a Block: 1789   Lot: 45
•    214/216 East 125th Street, New York, NY 10035 a/k/a Block: 1789   Lot: 43
•    14 Second Avenue, New York, NY 10003 a/k/a Block: 442   Lot: 6
• COLLATERAL TO BE SOLD: A 47.58% Percentage of Membership Interest in Second Phoenix Holding LLC (the “Company“) held by Harlem Phoenix Realty Corporation (“Harlem“) and a 52.42% Percentage of Membership Interest in the Company held by Kshel Realty Corp. (“Kshel“), including without limitation, Harlem’s and Kshel’s (i) interest in the capital of the Company; (ii) interest in all profits and distributions; (iii) all additional shares of stock of the Company acquired by Harlem and Kshel; (iv) certificates representing Harlem’s and Kshel’s interests in the Company; (v) all payments, if any, due to Harlem and Kshel; (vi) all of Harlem’s and Kshel’s rights, powers and remedies, as members of the Company arising from their ownership; and (vii) all of Harlem’s and Kshel’s rights as members of the Company to manage the affairs of the Company (collectively, the “Collateral“.)
• The Collateral is Subject to Liens in the Approximate Amount of $12,833,010.23 as of October 1, 2017