UCC Foreclosure Sale | 12 Woodin Road, Kent CT & 7 East 88th Street, New York, NY

Market Price

7 East 88th Street, New York, NY 10128

For Sale

Multifamily

Active

Last Updated: 04/01/2025

Details:

Building Size: 10,110 sqft

Lot Area: 2,466 sqft

Units: 4

Year Built: 1903

Zoning: R8B

Floors: 5

Number of Elevators: 1

Offered by Broker

Chaya Milworn

Managing Director

greg corbin

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Description:

Auction Details
Auction Date: Tuesday, May 20th, 2025 at 3:30 p.m. EST

SHARES IN: 12 WOODIN ROAD, KENT CT AND 7 EAST 88TH ST, NYC, UNITS 1A, 1B, 2A, 3A, 4A, 4B, 5A, 5B & ROOF

NOTICE OF DISPOSITION OF COLLATERAL
Northgate Real Estate Group has been exclusively retained to market the collateral that is made up of 7 East 88th Street, New York, NY, units 1A, 1B, 2A, 3A, 4A, 4B, 5A, 5B and Roof and 12 Woodin Road, Kent CT.

Reference is made to that certain $12,145,000.00 Amended, Consolidated and Restated Promissory Note, dated as of December 15, 2023 (the “Note”), secured by that certain Loan Agreement, dated as of December 15, 2023 (as may be amended, restated, replaced, supplemented or otherwise modified from time to time, the “Loan Agreement”, together with the Note, the “Loan”), as amended by that First Amendment to Loan Documents, dated as of June 18, 2024 (the “Amendment to Loan Documents”), given by 34715, LLC (the “34715 Borrower” and/or “34715 Pledgor”, and/or the “34715 Pledged Entity”), in favor of 88 STREET SERVICING (the “Original Lender”), which Loan is further secured by that certain Pledge and Security Agreement and Assignment of Leases and Rents, dated as of December 15, 2023 (as may be amended, restated, replaced, supplemented or otherwise modified from time to time, the “Initial Pledge Agreement”), as amended by that certain Amended and Restated Pledge and Security Agreement and Assignment of Lease and Rents, dated as of June 18, 2024 (the “A&R Pledge Agreement”, together with the Initial Pledge Agreement, the “Co-Op Share Pledge Agreement”), whereby the 34715 Pledgor, pledged to Original Lender, (i) its shares (the “Shares”), in 7 EAST 88TH ST. CORP., a New York corporation (the “7E88ST Guarantor”), allocated to cooperative units 1A, 1B, 2A, 3A, 4A, 4B, 5A, 5B and Roof (collectively, the “Units”), at the premises known and located at 7 East 88th Street, New York, NY 10128, and (ii) the proprietary leases appurtenant thereto (the “Leases, together with the Units, the “NY Property”).