Commercial Observer

A virtual uniform commercial code (UCC) foreclosure auction that was scheduled to take place today on a luxury condominium development site in Westchester County has been staved off by a Chapter 11 bankruptcy filing by the developer, Commercial Observer has learned. Greenwich, Conn.-based lender Silver Point Capital initiated the UCC foreclosure on just over $1 million in debt that was provided in 2018 to developer DeNardo Capital Corp. on a now-stalled 252,700-square-foot development site geared to host a condo project called Marker 27. The petition was made in the U. S. Bankruptcy Court in the Southern District of New York under two LLCs — DeNardo Capital Management and DeNardo Capital Management II — and was put forth by Dawn Kirby, a well-known bankruptcy attorney with Westchester-based firm Kirby, Aisner & Curley. The virtual auction had initially been scheduled for Dec. 17, 2020, but sources said DeNardo officials complained that the marketing time period in the run up to the auction wasn’t commercially reasonable, and Silver Point pushed it back to Feb. 18 to allow more time.

A platform that aggregates listings from multiple coworking providers will launch a tool to let users book COVID-19 safe offices. A platform that aggregates listings from multiple coworking providers will launch a tool to let users book COVID-19 safe offices. ” Coworking companies are signing a contract with Upflex agreeing to adhere to the Safe Spaces protocols and users will be able to leave reviews on its platform after bookings to make sure the standards are being met, Garnier said. And even with some positing the death of the office after companies saw the success of its employees working from home, Garnier said he’s confident offices and coworking spaces will be here to stay.

Vornado Realty Trust has a new head of retail, the 50-year-old Haim Chera, who until now, was the principal of the family business, Crown Acquisitions. Vornado also announced today that it was selling a 45

Streaming media giant Netflix plans to spend $100 million to expand its footprint in New York City, Governor Andrew Cuomo announced today. Netflix signed a lease with Normandy Real Estate Partners for 100,000 square feet at 888 Broadway between East 18th and East 19th Streets to house a 127-person corporate office, Variety first reported