NORTHBROOK, Ill., May 2, 2024
/PRNewswire/ -- Hilco Real Estate, LLC, announces May 17, 2024 as the bid deadline for the Chapter
11 bankruptcy sale of two commercial condominiums in New York City's historic Greenwich Village. These condominiums occupy
the first and second floor of the building located at 350-354
Avenue of the Americas. With 176 feet of prime, wraparound frontage
on the corner of 6th Avenue and Washington Place, these offerings
benefit from high visibility and heavy foot traffic.
The ground-floor retail space, totaling over 7,850± square feet
and zoned C1, boasts 15-foot ceilings, exceptional location and can
accommodate single or multiple tenants. While currently not built
out, the versatile layout can be retrofitted to take advantage of
three separate entry points, which present a unique opportunity for
various uses.
The second-floor space, spanning 8,942± square feet and zoned
C2, offers ample flexibility for community-oriented endeavors.
Previously occupied by a daycare, the space retains its built-out
infrastructure, providing a turnkey solution for a new operator.
This setup can also offer potential investors the ability to
combine both floors and potentially increase the value for a
prospective tenant.
The condominiums sit just one block from Washington Square Park
and four blocks from NYU, ideally
positioned to take advantage of excellent foot traffic.
Additionally, eight subway lines, including the A, C, E, B, D, F, M
and 1, and the PATH train are within walking distance, ensuring
easy accessibility for both employees and customers.
Greenwich Village, on the west
side of Lower Manhattan, is known for its history of fostering art
and creativity, with notable former residents including
Edgar Allen Poe, Jackson Pollack and Bob Dylan. The neighborhood
also features multiple attractions, including Washington Square
Park, the Village Vanguard jazz club, the Comedy Cellar, the
historic Jefferson Market Library and several historic districts
dedicated to preserving the Village's character and charm. In
addition to being lauded for its creative culture, Greenwich Village is home to New York University (NYU), The New School
and Cooper Union, with over 64,000
students in attendance between the three universities. Despite the
pandemic, the neighborhood also saw a 1.85% population increase
from 2020 to 2021 and a 4.29% increase in median household
income.
Jonathan Cuticelli, vice
president at Hilco Real Estate, states, "The commercial spaces
listed with this bankruptcy deal will provide investors with the
flexibility to capitalize on the neighborhood's vibrant atmosphere
and diverse population. As Greenwich
Village continues to grow, the next owner will be
well-positioned to serve the community."
The sale of 350-354 Avenue of the Americas is being
conducted by Order of the U.S. Bankruptcy Court District of the
Southern District of New York
(Manhattan), Bankruptcy Petition
No. 23-10068-JPM, In re: Nuovo Ciao-Di LLC. Bids must be received
on or before the deadline of May
17 at 5 p.m. (ET) and must
be submitted on the Purchase and Sale Agreement available for
review and download from Hilco Real Estate's website.
Interested buyers should review the requirements in order to
participate in the bankruptcy sale process available on Hilco Real
Estate's website. For further information, please contact
Jonathan Cuticelli at (203) 561-8737
or jcuticelli@hilcoglobal.com.
For further information on the property, sale process, and terms
or to obtain access to due diligence documents, please visit
HilcoRealEstateSales.com or call (855) 755-2300.
About Hilco Real Estate
Hilco Real Estate ("HRE"), a
Hilco Global company (HilcoGlobal.com), is headquartered in
Northbrook, Illinois (USA). HRE is
a national provider of strategic real estate disposition services.
Acting as an agent or principal, HRE uses its experience to advise
and execute strategies to assist clients in deriving the maximum
value from their real estate assets. By leveraging multi-faceted
sales strategies and techniques, aggressive repositioning and
restructuring experience, a vast and motivated network of buyers
and sellers, and substantial access to capital, HRE exceeds
expectations even in the most complex transactions.
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SOURCE Hilco Real Estate