PLEASE TAKE NOTICE THAT, on October 17, 2025 (the “Auction Date”), at 2:30 p.m. Eastern Time, or as soon thereafter as practicable, LCP Hollywood Lender LLC, a New York limited liability company, and/or its successors and assigns (“Secured Party”), will hold a public sale in-person at the address set forth below and virtually via online video conference pursuant to Section 9-610 of the Uniform Commercial Code as enacted in the State of New York (the “UCC”), to sell to the qualified bidder with the highest or otherwise best bid, subject to the governing terms of sale, all of the right, title and interest of 6417 Selma Hotel Mezz, LLC, a Delaware limited liability company (“Pledgor”), in and to (i) its 100% limited liability company interest in 6417 Selma Holdings LLC, a Delaware limited liability company (“Hotel Borrower”) (such interests, the “Hotel Equity Collateral”) and (ii) its 100% limited liability company interest in 6421 Selma Restaurant LLC, a Delaware limited liability company (“Restaurant Borrower”) (such interests, the “Restaurant Equity Collateral”, and the Hotel Equity Collateral and the Restaurant Equity Collateral, collectively, the “Equity Collateral”). The Equity Collateral secures indebtedness owed by Borrower to Secured Party under a loan to Borrower in the outstanding principal amount of $30,300,000.00 plus unpaid interest, attorneys’ fees and other charges, including the costs to sell the Equity Collateral (the “Loan”).
Pledgor owns 100% of the limited liability company interests in Hotel Borrower. Hotel Borrower owns the fee simple interest in and to that certain real property commonly known as 6417 Selma Avenue, Hollywood, County of Los Angeles, California and certain other personal property and intangible assets used in the ownership and operation of thereof, as more particularly described in the documents evidencing, guaranteeing and/or securing the Loan (the “Loan Documents”). Pledgor owns 100% of the limited liability company interests in Restaurant Borrower. Restaurant Borrower owns a leasehold estate in and to the real property commonly known as 6421 Selma Avenue, Hollywood, County of Los Angeles, California and certain other personal property and intangible assets used in the ownership and operation of thereof, as more particularly described in the Loan Documents.
The Hotel Equity Collateral and the Restaurant Equity Collateral will be offered for sale in three public auctions, held consecutively, starting at 2:30 p.m. Eastern Time, on the Auction Date, as follows: (1) the Hotel Equity Collateral will first be offered for sale individually (the “Hotel Collateral Auction”); (2) immediately thereafter, the Restaurant Equity Collateral will be offered for sale individually (the “Restaurant Collateral Auction”); and (3) immediately thereafter, the Hotel Equity Collateral and the Restaurant Equity Collateral will be offered for sale as a collective whole (the “Bulk Sale Auction”). Subject to the governing terms of sale, Secured Party will determine the successful bidder(s) to which the Hotel Equity Collateral and the Restaurant Equity Collateral will be sold as follows: (x) with respect to the Hotel Equity Collateral, the qualified bidder that submits the highest or otherwise best bid (for each such auction, a “Winning Bid”) in the Hotel Collateral Auction, and, with respect to the Restaurant Equity Collateral, the qualified bidder that submits the Winning Bid in the Restaurant Collateral Auction, if such Winning Bids, taken in the aggregate, exceed the Bulk Sale Auction Winning Bid; or, alternatively, (y) with respect to the Hotel Equity Collateral and the Restaurant Equity Collateral collectively, the qualified bidder that submits the Winning Bid in the Bulk Sale Auction, if the Bulk Sale Auction Winning Bid equals or exceeds the aggregate of the Hotel Collateral Auction Winning Bid and the Restaurant Collateral Auction Winning Bid.
THE EQUITY COLLATERAL WILL BE SOLD ON AN “AS IS, WHERE IS” BASIS, WITH RESERVE, AND WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED. THERE IS NO WARRANTY RELATING TO TITLE, POSSESSION, QUIET ENJOYMENT, MERCHANTABILITY, FITNESS OR THE LIKE IN THESE DISPOSITIONS. Secured Party reserves the right to establish terms of sale, including bidding procedures and timing of settlement; to require bidders to tender a deposit in advance; to set minimum price(s) for the Hotel Equity Collateral and the Restaurant Equity Collateral; to have bidders demonstrate their ability to perform and close to its satisfaction; to reject all or any part of any bid in its sole discretion; to credit bid at the auctions; to assign its bid; to credit the purchase price against the expenses of the sales and the secured obligations; and to adjourn, continue, or cancel the auctions in whole or in part without further notice. The sales shall be held in accordance with all restrictions and obligations under the Loan, as applicable, and the terms of sale.
Bidders will be required to represent in writing that they will adhere to the terms of sale and are purchasing the Hotel Equity Collateral and/or the Restaurant Equity Collateral, as applicable, for their own account, not acquiring them with a view toward the sale or distribution thereof, and will not resell the interests acquired unless pursuant to a valid registration under applicable federal and/or state securities laws, or a valid exemption from the registration thereunder. The Hotel Equity Collateral and Restaurant Equity Collateral have not been registered under such securities laws and cannot be sold by the winning bidder(s) without registration or application of a valid exemption.
The public sales shall be conducted by Mannion Auctions, LLC, by Matthew D. Mannion, Auctioneer, NYC DCA License No. 1434494-DCA.
The auctions will be held in-person at Loeb &Loeb LLP, 345 Park Avenue, 21st Floor, New York, New York 10154 and virtually via online video conference. The link and password for the online video conference will be provided to all registered qualified bidders.
Parties interested in further information about the Equity Collateral, the requirements and/or registering to be a “qualified bidder”, or the terms of sale must contact Secured Party’s counsel, Vadim J. Rubinstein, Esq., at 212-407-4092 or by email at [email protected] during normal business hours. Upon execution of a standard non-disclosure agreement, additional documentation and information will be available. Parties who do not contact Secured Party’s counsel and register by 5:00 p.m. Eastern Time by October 10, 2025, may not be permitted to participate in the auctions. Secured Party and/or its successors and assigns reserve the right to modify the terms of sale and to adjourn, continue, or cancel the auctions in whole or in part at any time and from time to time, with or without notice.
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.
PUBLIC NOTICE OF UCC ARTICLE 9 SALE: Fulton SCG Member LLC
PUBLIC NOTICE OF UCC ARTICLE 9 SALE: Art Finance Funding (IX), LLC
PUBLIC NOTICE OF BANKRUPTCY SALE: Phillips Total Care Pharmacy, Inc.
PUBLIC NOTICE OF RECEIVERSHIP SALE: 4344 Middaugh Ave., Downers Grove, Illinois
PUBLIC NOTICE OF UCC ARTICLE 9 SALE: JAIAJ Winding Way, LLC
PUBLIC NOTICE OF UCC ARTICLE 9 SALE: 345 7th AVENUE REALTY OWNER LLC