PLEASE TAKE NOTICE, that in accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, by virtue of certain Event(s) of Default under that certain Membership Interest Pledge Agreement, dated as of September 26, 2024 (the “Pledge Agreement”), executed and delivered by LEETON REAL ESTATE INC. (the “Pledgor”), and in accordance with it rights as holder of the security, BIG FLATS LENDER LLC (the “Secured Party”), by virtue of that certain UCC-1 Filing Statements made in favor of Secured Party, all in accordance with Article 9 of the Code, Secured Party will offer for sale, at public auction: (i) all of Pledgor’s right, title, and interest in and to the following: ELMIRA REAL ESTATE ENTERPRISES LLC (the “Pledged Entity”), and (ii) certain related rights and property relating thereto (collectively, (i) and (ii) are the “Collateral”). Secured Party’s understanding is that the principal asset of the Pledged Entity is that certain premises subject to a ground lease located in Big Flats, Chemung County, New York, as more particularly described in the Mortgage (the “Property”).
Mannion Auctions, LLC (“Mannion”), under the direction of Matthew D. Mannion (the “Auctioneer”), will conduct a public sale consisting of the Collateral (as set forth in Schedule A below, via online bidding, on November 20, 2026 at 11:00am, in satisfaction of an indebtedness in the approximate amount of $18,508,510.19, including principal, interest on principal and reasonable fees and costs, plus default interest through November 20, 2026, subject to open charges and all additional costs, fees and disbursements permitted by law. The Secured Party reserves the right to credit bid.
Online bidding will be made available via Zoom Meeting:
Bidder Qualification Deadline: Interested parties who intend to bid on the Collateral must contact Brett Rosenberg at Jones Lang LaSalle Americas, Inc. (“JLL”), 330 Madison Avenue, New York, NY 10017, (212) 812-5926, [email protected], to receive the Terms and Conditions of Sale and bidding instructions by November 19, 2026 by 4:00 pm (EST). Upon execution of a standard confidentiality and non-disclosure agreement, which can be found at the following link http://www.830CountyRoute64ElmiraNYUCCSale.com, additional documentation and information will be available. Interested parties who do not contact JLL and qualify prior to the sale will not be permitted to enter a bid.
SCHEDULE A: PLEDGED INTEREST
KRISS & FEUERSTEIN LLP, Attn: Jerold C. Feuerstein, Esq., Attorneys for Secured Party, 360 Lexington Avenue, Suite 1200, New York, New York 10017, (212) 661-2900
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