AuctionAdvisors to conduct UCC Foreclosure Auction on 22,000 SF of space at the New Fulton Fish Market Cooperative at Hunts Point; Former location of M. Slavin & Sons
AuctionAdvisors, a premier full-service auction company serving the greater New York region, has been retained to auction off 10 stalls, consisting of 22,000 SF of space at the New Fulton Fish Market. Largest and highly strategic space in the Fish Market. The foreclosure auction will take place at the Fish Market on Friday, December 6, 2019 at 10 a.m. Details available through the AuctionAdvisors website at http://www.AuctionAdvisors.com.
NEW YORK, Nov. 18, 2019 /PRNewswire-PRWeb/ -- AuctionAdvisors, a premier full-service auction company serving the greater New York region, has been retained to auction off 10 stalls, consisting of 22,000 SF of space at the Fish Market. The UCC Article 9 foreclosure auction will take place at the Fish Market on Friday, December 6, 2019 at 10 a.m. Details of the subject property and auction is currently available through the AuctionAdvisors website at http://www.AuctionAdvisors.com.
The Fulton Street Fish Market at Hunts Point is the largest and most established fish market in the United States. It handles millions of pounds of fish & seafood, with sales of over $1 Billion per year it supplies 1/3 of New York's demand for fish & seafood.
The M. Slavins' location being auctioned off is the largest spot and in the most strategically desirable location in the Market. In addition to its prominence in the wholesale display area of the Market, it has large refrigeration and freezer areas, a fillet room, dry storage areas, loading areas, and large office/conference rooms space overlooking the Market. After over a century of being a dominant regional player, M. Slavins closed its door earlier this summer and its former location in the Fish Market is one of the last assets to be sold. "This is a unique opportunity for a new player to step into a prominent and well established location in the Fish Market, and obtain an immediate presence in the regional marketplace for fish & seafood" said Mr. Joshua Olshin, Managing Partner at AuctionAdvisors.
The Fish Market is set up as a cooperative, so the property being foreclosed on and auctioned off is the 18,450 shares in the Fish Market, together with an interest in the proprietary lease for the space that includes the 10 fish stalls former occupied by M. Slavin: Units # 66, 68, 70, 72, 74, 76, 78, 80, 82 & 84. In order to participate at the auction, bidders must show sufficient financial strength to close on the transaction and meet the monthly maintenance obligations. "Cooperative brokers who assist in the procurement of any offers will be offered a 2% fee from Auction Advisors" said Mr. Oren Klein who is also with AuctionAdvisors and handling this sale.
For more information, please visit the AuctionAdvisors website at http://www.AuctionAdvisors.com, contact Joshua Olshin via email at Jolshin@AuctionAdvisors(dot)com. or by phone at 212-375-1222 ext. 705.
SOURCE AuctionAdvisors
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