Auction/Non-Performing Loan Sale - Manhattan Retail

Please note that the above-referenced price reflects the Starting Bid price for a non-performing loan collateralized by the retail coop unit, which is being marketed for sale by private auction.​ Online bidding will take place December 16-18.​ Seller reserves the right to accept or reject bids.​ 4% Buyer’s Premium.​ Additional terms apply.​ Please visit Paramount Realty USA’s website for more details.​

Paramount Realty USA (“Paramount”) has been retained on an exclusive right-to-sell basis by the owner (“Seller”) of a loan (“Loan”), which is secured by a first mortgage collateralized by the retail coop located at 306 West 13th Street, New York, NY (“Property”), to sell the Loan by auction, as provided in further detail herein.

The Loan was originated 7/26/18, matured 6/30/24 and carries an unpaid balance of approximately $1,863,648. The Property consists of a long-term leasehold interest in grade-level retail plus the lower level of 306 West 13th Street. The Property, configured as a restaurant, is approx. 2,400sf (including lower level) and located at the intersection of the world-famous Meatpacking District and the highly coveted West Village submarket of Manhattan. The Property appraised 3/20/18 for $3,750,000.

Paramount’s auction represents a unique opportunity to acquire the Loan at a compelling price.