DailyDAC
Share this...

PUBLIC NOTICE OF UCC SALE: Broad St Ventures Urban Renewal

NOTICE OF PUBLIC SALE OF COLLATERAL

Current Principal Balance: $21,491,468.34

PLEASE TAKE NOTICE that in accordance with the applicable provisions of the Uniform Commercial Code of the State of New Jersey, Parkview Financial REIT, LP, as the agent under a certain loan agreement and a pledge agreement (“Secured Party”), will offer at public auction the limited liability company interests (the “Collateral”) in Broad St Ventures Urban Renewal, LLC (the “Company”), which entity, upon Secured Party’s information and belief, owns a fee estate in the building known as Indigo Residence Apartments and by the street number 810-812 Broad Street, Newark, New Jersey (Block 165, Lot 11). The sale of the Collateral involves the sale of the equity interests of the Company and does not involve the direct sale of the fee estate described above. The Collateral has not been and will not be registered under the Securities Act of 1933 (the “Act”) and is being offered for sale in a transaction exempt from the requirements of the Act. The Collateral will be offered for sale as a single unit or in separate lots.

The public auction will be held in person at the offices of DLA Piper LLP (US) located at 1251 Avenue of the Americas, New York, New York, 10020 and virtually via Zoom Meetings, on September 11, 2025 at 3:30 p.m. (ET). The Collateral secures indebtedness owing by the Company to Secured Party in an amount of not less than $24,414,784.43 plus unpaid interest and all other sums due under the applicable loan documents. The Collateral will be sold to the highest qualified bidder; provided, however, Secured Party reserves the right to cancel the sale in its entirety or to adjourn the sale to a future date at any time. Secured Party also reserves the right to bid, including by credit bid.

Additional documentation and information regarding the Collateral will be made available, including the terms of the public sale, to interested parties that execute a confidentiality agreement. To review and execute such confidentiality agreement, please contact Brock Cannon of Newmark, Secured Party’s broker, at [email protected] or (212)-372-2066.

Interested parties that intend to bid on the Collateral must contact Brock Cannon of Newmark, Secured Party’s broker, at [email protected] or (212)-372-2066 no later than five (5) business days before the date scheduled for the auction to receive information on how to register for the auction. For questions and inquiries, please contact Brock Cannon or Neal Kronley of DLA Piper LLP (US), counsel to Secured Party, at [email protected]. Interested parties who do not comply with the foregoing or any other requirement of the applicable terms of sale, including, without limitation, any deadlines set forth herein or therein, will not be permitted to enter a bid.

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
>