Bankruptcy Sale: 50 Unit Approved Building Site w/Foundation

Description

Bankruptcy Sale: Unique opportunity to acquire a building site located in Area 11 of Paterson’s Redevelopment District in the Multi-Family Residential Zone. With a foundation already in place, the 12,500 SF property has been approved for a 6-story, 50 unit apartment building with parking on the ground level for 30 vehicles. There will be 5 one-bedroom units and 5 two bedroom units on each floor. Bankruptcy Auction: June 11th @ 11AM. In order to participate at auction, a minimum bid of $2,050,000 must be received along with a signed contract of sale and deposit no later than Tuesday, May 28th. Additional property & bidder participation information, including the Notice of Sale, are posted on AuctionAdvisors.com. In RE: Chapter 11 Bankruptcy Case No.: 23-17272-RG, IN THE UNITED STATES BANKRUPTCY COURT DISTRICT OF NEW JERSEY.

Documents

Auction Information

Property Information

* Requires confirmation of Online Agreement

Terms & Conditions

  • Buyers Premium:

    N/A

  • Closing:

    See Notice of Sale

  • Deposit Amount:

    See Notice of Sale

  • Broker Co-op:

    2%. All brokers must be duly qualified. Contact Auctioneer for requisite forms.

  • Buyers Premium:

    N/A

  • Closing:

    See Notice of Sale

  • Deposit Amount:

    See Notice of Sale

  • Broker Co-op:

    2%. All brokers must be duly qualified. Contact Auctioneer for requisite forms.

Auction Info:

  • Tuesday, June 11th @
    11:00 AM
  • Property Type
    Commercial
  • Property Location
    555 Main Street
    Paterson, NJ 07503
  • Auction Location
    United States Bankruptcy Court, Courtroom 3E, 50 Walnut Street, Newark, NJ 07102

Property Map



Auction Contact(s):

Oren Klein

  • Email Oren
  • W: (212) 375-1222 x703
    F: (212) 202-6267

Joshua Olshin