NOTICE OF SECURED PARTY’S PUBLIC SALE OF COLLATERAL UNDER UNIFORM COMMERCIAL CODE

PLEASE TAKE NOTICE that on Tuesday, August 1, 2017, at 10:00 A.M. local time, West 126th Street Mezz Lender LLC (“Secured Party”), will offer for sale at a public auction, and sell to the highest “qualified bidder,” at the office of Cole Schotz P.C., 1325 Avenue of the Americas, 19th Floor, New York, New York 10019, under Section 9-610 of the Uniform Commercial Code as enacted in the State of New York, all of Secured Party’s right, title, and interest as a secured creditor of Columbia Lawrence Holdings 1 LLC, a New York limited liability company (“Debtor 1”) and Columbia Lawrence Holdings 2 LLC, a New York limited liability company (“Debtor 2,” together with Debtor 1, the “Debtor”)  in 100% of the membership interests in 126 Columbia Tower 1 LLC, a New York limited liability company, and 126 Columbia Tower 2 LLC, a New York limited liability company (collectively, the “Issuer”), pledged to Secured Party by Debtor.  The principal asset of Debtor is 100% of the limited liability company interests in the Issuer and certain related rights and property relating thereto (collectively, the “Collateral”).  Secured Party is informed and believes that Issuer owns certain real property known as: 402-410, 412-414, 416, 418, 420 and 422 West 126th Street, NY, NY; 429 West 126th Street, NY, NY; 422 West 127th Street, NY, NY; and 423 West 126th Street, NY, NY.  This sale will be held to enforce the rights of Secured Party under (i) that certain Mezzanine Loan Agreement dated as of November 19, 2015, and (ii) those certain two (2) LLC Membership Interest Pledge Agreements dated as of November 19, 2015, executed by Debtor 1 and Debtor 2, respectively, in favor of Secured Party.  The sale will be FINAL and on an “AS-IS, WHERE IS” basis and will be made WITHOUT REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO TITLE, QUALITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, POSSESSION, QUIET ENJOYMENT, OR ANY OTHER MATTER.  Secured Party reserves the right to establish other reasonable bidding procedures and to require potential bidders to reasonably demonstrate their ability to perform and close on the acquisition of the Collateral to the satisfaction of Secured Party.  Secured Party reserves the right to credit bid at the auction.  Secured Party also reserves the right to adjourn continue, or cancel the auction without further notice.  Any parties interested in further information about the Collateral, becoming a “qualified bidder,” and/or the terms of the sale should contact Jonathan Cuticelli of Sheldon Good & Company at (800) 516-0015 or jpcuticelli@sheldongood.com.  Qualified bidders may obtain a confidentiality agreement by visiting http://www.SheldonGood.com.  Any prospective bidder must satisfy the requirements to be a “qualified bidder” by no later than 9:00 A.M. local time, on Tuesday, August 1, 2017.  The sale will be conducted by Jonathan Cuticelli, Sheldon Good & Company, a New York licensed auctioneer, license No. 1387302.   

Please call for more information: 800-516-0015

New York Development Site - Mezzanine Foreclosure Auction

Selling 100% Membership Interests in 126 Columbia Tower 1 LLC and 126 Columbia Tower 2 LLC