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Hilco Real Estate Accepting Bids for Residential Development Site in Manhattan

June 15, 2018, 07:15 AM
Filed Under: Real Estate

Hilco Real Estate, LLC announced the date of June 29, 2018 as the qualifying bid deadline for 203-207 Cabrini Boulevard, located in Hudson Heights, Manhattan, New York. This property is zoned R7-2 and may allow for total buildable square feet of 18,266+/- (up to 20,337 with a 4th lot), and total dwelling units of 27 (up to 30 with a 4th lot).  The location offers premium views of the Hudson River and the George Washington Bridge.

 A hidden gem, Hudson Heights is bounded by the Hudson River and Broadway to the east-west and stretches north from 173rd Street to the lush gardens of Fort Tryon Park. The property is only a two-block walk to the 181st Street A Subway station providing convenient access to all of New York City. The area is known for its many parks, scenic views and numerous veiled local hangouts.

Jeff Azuse, Senior Vice President for Hilco Real Estate stated, “Rarely does a land site like this become available with in place zoning for a premium residential development.  Furthermore, as a result of this being a bankruptcy sale, the new owner has the unique opportunity to obtain clean title free and clear of liens and transfer taxes.”

The qualifying bid deadline is June 29, 2018 at 5:00 p.m. EST. To participate in this offering, interested parties should review the due diligence information, bidding procedures and requirements located on the web page (link below), and submit by June 29, 2018 your qualifying bid on the approved Asset Purchase Agreement template, along with a 10% earnest money deposit.   You will be notified if your bid qualifies to participate in an auction which is currently scheduled to be held on July 9, 2018.  This sale is subject to court approval.

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