DailyDAC
Share this...

PUBLIC NOTICE OF UCC SALE: FIFTH HOLDING LLC

NOTICE OF SALE

PLEASE TAKE NOTICE that, in accordance with applicable provisions of the Uniform Commercial Code as enacted in the State of New York, by virtue of certain Event(s) of Default under that certain Mezzanine Loan Agreement (as amended, the “Mezzanine Loan Agreement”), dated as of December 24, 2014, between 401 FIFTH HOLDING LLC, a Delaware limited liability company, as Borrower (“Debtor”), and 393 FIFTH FUNDING LLC, a Delaware limited liability company, as Lender (“Secured Party”), Secured Party will offer for sale at public auction all of the Secured Party’s right, title and interest in and to (a) 100% of the limited liability company interests (the “Interests”) in 401 FIFTH LLC, a Delaware limited liability company (the “Owner”), and (b) certain related rights and property relating to the Interests (collectively, (a) and (b) are the “Collateral”) owned by Debtor. The public sale (the “Sale”) will take place at 2:00 p.m. New York time on April 8th ,2025, both in person and remotely from the offices of Meister Seelig & Fein PLLC, 125 Park Avenue, 7th Floor, New York, New York 10017, with access afforded in person and remotely via the link below or by any other web-based video conferencing program selected by Secured Party. Secured Party’s understanding is that the principal asset of Owner is certain real property commonly known as, and located at, 393-401 Fifth Avenue, New York, New York (the “Property”). This Sale of the Collateral involves the sale of the equity interests in the Owner and does not involve the direct sale of the Property.

Mannion Auctions, LLC (“Mannion”), under the direction of Matthew D. Mannion, Auctioneer, (the “Auctioneer”), will conduct the Sale in respect of an indebtedness with an unpaid principal balance as of January 21, 2025 in the approximate amount of $32,799,499.96, together with interest thereon and other sums due under the Mezzanine Loan Agreement, subject to all additional costs, fees and disbursements permitted by law. The Secured Party reserves the right to bid including by credit bid.

Virtual bidding will be made available via Zoom, meeting link: https://bit.ly/393401Fifth (URL is case sensitive), Meeting ID: 865 0988 5400; Passcode: 494111; Dial-In: +1 (646) 931-3860; Find your local dial-in number: https://us06web.zoom.us/u/kcZzGdqxom.

The Collateral will be sold to the highest qualified bidder; provided, however, that Secured Party reserves the right to cancel the Sale in its entirety, or to adjourn the Sale to a future date. Interested parties who intend to bid on the Collateral should contact Secured Party’s UCC broker, Newmark, at c/o Brock Cannon, Phone: (212) 372-2066, Email: [email protected] to receive the Terms of Public Sale and bidding instructions. Upon execution of a standard confidentiality and non-disclosure agreement, additional documentation and information will be made available.

About DailyDAC

DailyDAC™ is the internet's oldest, most trusted, and most widely used provider of public notices of asset sales and case commencements, and other important notices involving companies in financial distress in the United States and Canada. DailyDAC™ public notices are used by bankruptcy trustees, chapter 11 debtors in possession, federal and state court receivers, assignees for the benefit of creditors, auctioneers, and secured parties disposing of their collateral under the Uniform Commercial Code or other state law trust (and their respective auction firms, law firms, and other agents). Learn more.

Many sales of distressed companies and distressed business assets are not widely advertised. If you are buyer of such companies or assets, you may be well served by becoming a paying subscriber to Distressed Deal Data™. Find out more.

The DailyDAC Editors
>