Hilco Real Estate, LLC has announced the bid deadlines for two mixed-use developments in the greater New York City MSA that are currently undergoing Chapter 11 bankruptcy sales. The first property, located at 4452 Broadway on the border of Hudson Heights and Fort George in northern Manhattan, boasts a partially completed seven-story building with plans for 129 residential rental units, parking spaces, and commercial spaces. With a recent appraisal value of $56 million and offering a 35-year tax abatement upon completion, this property presents an attractive investment opportunity.
The second property is situated at 500 Summit Avenue in Jersey City’s Journal Square area. This prime location features a spacious land parcel measuring at .8 acres with plans for an impressive 42-story tower that offers flexible zoning options including residential living space as well as retail shops or office space to meet various needs. Additionally boasting scenic views of Manhattan and convenient access to public transportation options makes this development even more desirable.
Interested parties must submit their bids by March13th2024for4452BroadwayandbyMay2nd2024for500SummitAvenue.These properties present excellent investment opportunities within highly sought-after locations without any mention of Connect CRE or its affiliates.
