MALTZ AUCTIONS TO AUCTION PARTIALLY CONSTRUCTED LOWER EAST SIDE HOTEL
Tuesday, May 10, 2016 at 1:00 pm
(Central Islip, NY – April 1, 2016) – Maltz Auctions, an award-winning full-service auction company serving the New York metropolitan region, announced it will auction the partially constructed, 16-story, hotel located at 139-141 Orchard Street, Lower East Side, Manhattan, NY, on Tuesday, May 10, 2016 at 1:00 pm at The Hotel on Rivington, 107 Rivington Street, New York, NY. This auction was authorized by order of the U.S. Bankruptcy Court Southern District of New York, re: D.A.B. Group LLC – Case # 14-12057 (SCC). Maltz Auctions has been retained by Ronald J. Friedman as chapter 11 trustee, represented by SilvermanAcampora LLP.
“This is an incredible opportunity for the right investor to purchase a block-through site with frontage on Orchard Street and Allen Street, with a partially constructed 92- key hotel with completed 16-story steel superstructure, spectacular permanently unobstructed city views, and the potential for a rooftop lounge,” said Richard Maltz, president of Maltz Auctions. “Opportunities like this are really quite rare.”
This offering is just one of many properties – including luxury residential and commercial, distressed and non-distressed real estate – auctioned by Maltz Auctions. In addition to real estate, Maltz Auctions specializes in personal and intellectual property auctions. The company also offers expertise in liquidations, appraisals and real estate brokerage.
For details about Maltz Auctions and additional upcoming auctions visit MaltzAuctions.com.