It’s not often that an opportunity to take over one of New York City’s top nightclub spaces makes itself available. But with the bankruptcy sale of Williamsburg mega-club Verboten’s lease — for a 10,000-square-foot industrial space at 60 N. 11th Street that’s been dormant for a little more than a month — MYC & Associates is making that a reality with a July 13 bid deadline.
The lease, currently under market at $25 per square foot, has 5 1/2 years remaining. Market value is believed to be $45-50 per square foot. For investors looking to capitalize on an existing audience, debtors right, title, interest, fixtures and equipment are included in the sale.
Separately, in addition to the interest in the lease, the sound equipment, intellectual properties for the brand, and other personal property are also available for purchase. Bids are currently being accepted for those assets.
Opening bid for 60 N. 11th Street is $435,000, all-cash, and the deadline for submission is 5 p.m. on Wednesday, July 13.
In the event of multiple bids to purchase the debtor’s assets, an auction sale will take place at 10 a.m. on Monday, July 18, at the office of Tarter Krinsky & Drogin, LLP, 1350 Broadway, 11th Floor, in Manhattan.