Non-Performing Loan Sale: Manhattan Retail

Non-Performing Loan Sale: Manhattan Retail

Non-Performing Loan Sale: Manhattan Retail
New York, NY
Starting Bid $500,000
Unpaid Balance $1,863,648
Bidding Opens: Mon Dec 16, 12:00 PM EST
Bidding Closes: Wed Dec 18, 12:00 PM EST
6
days
2
hours
4
minutes

Highlights

Investment Opportunity
Paramount Realty USA has been retained on an exclusive right-to-sell basis by the owner of a loan (“Loan”), which is secured by a first mortgage collateralized by a retail coop, to sell the Loan by auction. Paramount’s auction represents a unique opportunity to acquire the Loan at a compelling price. See Offering Memorandum for details.

Property Information
Property Type: Retail Coop - Leasehold Interest
Location: West Village, New York, NY
Occupancy: Assumed Vacant
Zoning: C1-6 Local Retail District

Loan Information
Original Principal Balance: $2,025,000
Unpaid Principal Balance: $1,863,648
Status: Non-Performing
Current Maturity Date: 6/30/2024
Rate Type: Fixed
Interest Rate: 4.75%
Default Rate: 24% per annum or the maximum rate allowed to becharged by law, whichever is lower

How to Participate

  1. View Offering Memorandum Click Here
  2. Review Due Diligence Click Here
    Includes Bid Instructions, Loan Information, Property Information and more.
  3. Register to Bid Click Here
    Bidding begins online at 12pm EST on Monday, December 16 and ends 12pm EST on Wednesday, December 18.

    Register now. All bids subject to 4% Buyer’s Premium. Auction with reserve.

    Subject to the terms provided in the Offering Memorandum and the Due Diligence Information. No physical access to the property is permitted.