The 6-story, 10-unit building at 97 Second Ave. between Sixth Street and Fifth Street was one of the first East Village properties purchased by Raphael Toledano.
Now the building, which has a complicated recent history (there was a lawsuit in 2014 involving Toledano and another broker), is on the auction block.
Here are the details:
On the 28th day of February, 2017 commencing at 10:30 a.m. Eastern Standard Time, at Polsinelli PC, 600 Third Avenue, 42nd Fl., New York, NY 10016, Lefko Funding LLC (Secured Party) will sell the following property by public auction to the highest qualified bidder: 100% of the membership interests in 97 2nd LLC, a New York limited liability company, which owns real property consisting of apartments and a first floor commercial space, in New York, NY with an address of 97 Second Avenue, New York, NY 10003.
Secured Party reserves the right to reject all bids and terminate or adjourn the sale to another time or place, or to effectuate a private sale instead of a public sale, without further publication, and further reserves the right to bid for the collateral at the sale and to credit bid by applying some or all of its secured debt to the purchase price. Interested parties who would like additional information concerning the items to be sold at the sale and the terms and conditions of the sale, including the eligibility requirements to be a qualified bidder.
Public records show that Toledano paid $4.95 million for it in April 2014.
In 2014, Douglas Pratt, whose family had operated the longtime laundromat here since the early 1970s as well as owned the building, said that they needed to sell "for a host of personal and business reasons."
The retail space is now home to Hou Yi Hot Pot. They have a lease through February 2030.
Earlier this month news broke that, facing foreclosure, Toledano was selling off most of his East Village properties.