Please take notice that Newmark, on behalf of FULTON SCG II DEBT FUND, LLC, a Delaware limited liability company (the “Secured Party”), will offer for sale at public auction on August 26, 2026 at 3:00 p.m. EDT in connection with a Uniform Commercial Code sale, 100% of the limited liability company membership interests (the “Interests”) in and to Fulton SCG Member LLC, a Delaware limited liability company (the “Issuer”), which Issuer is the indirect owner of certain real properties comprised of certain commercial and residential condominium units in the Tangram development (collectively, the “Property”). The Interests are owned by Fulton SCG Development Mezz LLC, a Delaware limited liability company, having its principal place of business at 37-12 Prince Street, #PH2A, Flushing, New York (the “Debtor”). The sale will be conducted in-person in the offices of Kasowitz LLP, 1633 Broadway, New York, New York 10019, and also being broadcast for remote participation via virtual videoconference. The URL address and password for the online video conference will be provided to all confirmed participants that have properly registered pursuant to the Terms of Sale. Parties who do not satisfy the conditions to bid in accordance with the terms hereof and the Terms of Sale will forfeit their opportunity to register and may be banned from bidding.
The Debtor has pledged and granted to the Secured Party a first priority lien on and security interest in the Interests pursuant to that certain First Priority Member Interest Pledge Agreement dated as of December 8, 2017. The Secured Party is offering the Interests for sale in connection with the foreclosure on the pledge of such Interests.
The Interests are being offered as a single lot, “as-is, where-is”, with no express or implied warranties, representations, statements or conditions of any kind made by the Secured Party or any person acting for or on behalf of the Secured Party, without any recourse whatsoever to the Secured Party or any other person acting for or on behalf of the Secured Party and each bidder must make its own inquiry regarding the Interests. The winning bidder shall be responsible for the payment of all transfer taxes, stamp duties and similar taxes incurred in connection with the purchase of the Interests.
The Secured Party reserves the right to credit bid, set a minimum reserve price, reject all bids (including without limitation any bid that it deems to have been made by a bidder that is unable to satisfy the requirements imposed by the Secured Party upon prospective bidders in connection with the sale or to whom in the Secured Party’s sole judgment a sale may not lawfully be made) and/or terminate or adjourn the sale to another time, without further notice. The Secured Party further reserves the right to restrict prospective bidders to those who will represent that they are purchasing the Interests for their own account for investment not with a view to the distribution or resale of such Interests, to verify that each certificate for the Interests to be sold bears a legend substantially to the effect that such interests have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be disposed of in violation of the provisions of the Securities Act and to impose such other limitations or conditions in connection with the sale of the Interests as the Secured Party deems necessary or advisable, in its sole discretion, in order to comply with the Securities Act or any other applicable law or regulation.
All bids (other than credit bids of the Secured Party) must be for cash. Further information concerning the Interests, a detailed description of the Property, the requirements for obtaining information and bidding on the interests and the Terms of Sale can be found at https://tinyurl.com/4tcns6dv.
Brock Cannon +1 646-315-4785; [email protected]
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