Urban Commons’ hearing on sale of hotel lease assets moved to June 8

By Sarah Lizee

Olympia, Wash., May 19 – Urban Commons 2 West LLC’s hearing on approval of the sale of its hotel lease assets has been moved to June 8, according to an order filed with the U.S. Bankruptcy Court for the Southern District of New York.

The lease relates to a mixed-use building at 2 West Street, New York.

As previously reported, the company recently named debtor-in-possession lender BPC Lender, LLC the winning bidder for the assets.

The purchase price consists of a $78.5 million credit bid.

No other qualified bids were received by the bid deadline.

Urban Commons is a Corona Del Mar, Calif.-based company that modernizes underperforming hotels. The company filed Chapter 11 bankruptcy on Nov. 15, 2022 under case number 22-11509.

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