UCC FORECLOSURE SALE

Auction: March 23, 2026 at 3:00 PM

Northgate Real Estate Group has been exclusively retained to market 100% membership interests in a limited liability company owning 12 Woodin Road, Kent CT and shares in 7 EAST 88TH ST. CORP., a New York corporation, allocated to cooperative units 1A, 1B, 2A, 3A, 4A, 4B, 5A, 5B and Roof.

Reference is made to that certain $12,145,000.00 Amended, Consolidated and Restated Promissory Note, dated as of December 15, 2023 (the “Note”), secured by that certain Loan Agreement, dated as of December 15, 2023 (as may be amended, restated, replaced, supplemented or otherwise modified from time to time, the “Loan Agreement”, together with the Note, the “Loan”), as amended by that First Amendment to Loan Documents, dated as of June 18, 2024 (the “Amendment to Loan Documents”), given by 34715, LLC (the “34715 Borrower” and/or “34715 Pledgor”, and/or the “34715 Pledged Entity”), in favor of 88 STREET SERVICING (the “Original Lender”), which Loan is further secured by that certain Pledge and Security Agreement and Assignment of Leases and Rents, dated as of December 15, 2023 (as may be amended, restated, replaced, supplemented or otherwise modified from time to time, the “Initial Pledge Agreement”), as amended by that certain Amended and Restated Pledge and Security Agreement and Assignment of Lease and Rents, dated as of June 18, 2024 (the “A&R Pledge Agreement”, together with the Initial Pledge Agreement, the “Co-Op Share Pledge Agreement”), whereby the 34715 Pledgor, pledged to Original Lender, (i) its shares (the “Shares”), in 7 EAST 88TH ST. CORP., a New York corporation (the “7E88ST Guarantor”), allocated to cooperative units 1A, 1B, 2A, 3A, 4A, 4B, 5A, 5B and Roof (collectively, the “Units”), at the premises known and located at 7 East 88th Street, New York, NY 10128, and (ii) the proprietary leases appurtenant thereto (the “Leases, together with the Units, the “NY Property”).

Reference is further made to that certain Guaranty of the Loan, dated as of December 15, 2023 (the “Guaranty”), executed by the 7E88ST Guarantor, JEFFREY M. KRAUSS, an individual (“Krauss”, together with the 34715 Pledgor, collectively, the “Pledgor”), and NYC157, LLC, a Connecticut limited liability company (the “NYC157 Pledged Entity” and/or the “NYC157 Guarantor”, together with the 7E88ST Guarantor and Krauss, collectively, the “Guarantor”, and the NYC157 Pledged Entity, together with the 34715 Pledged Entity, collectively, the “Pledged Entities”), in favor of Original Lender, which Guaranty is secured by among other things (i) that certain Pledge and Security Agreement, dated as of December 15, 2023 (the “NYC157 Pledge Agreement”), whereby Krauss, pledged his 100% membership interest in and to the NYC157 Pledged Entity, the owner of the premises located at 12 Woodin Road, Kent CT 06757 (the “CT Property”), to Original Lender, and (and (ii) that certain Pledge and Security Agreement, dated as of December 15, 2023 (the “34715 Pledge Agreement”, together with the Co-Op Share Pledge Agreement and the NYC157 Pledge Agreement, collectively, the “Pledge Agreements”), whereby Krauss, pledged his 100% membership interest in and to the 34715 Pledged Entity, to Original Lender. The Note, Loan Agreement, Amendment to Loan Documents, Guaranty, Pledge Agreements, and any other documents executed in connection with the Loan are hereinafter referred to as the “Loan Documents”. Capitalized terms not defined herein shall have the same meaning as stated in the Loan Documents.

Original Lender assigned all of its rights, title and interest in and to the Loan and Loan Documents unto NYC TH SHARE HOLDER LLC (the “Secured Party”) on or about July 3, 2024.

Pursuant to the Pledge Agreements, Pledgor has pledged to Secured Party, and Secured Party has a perfected security interest in the Collateral (as defined in the Pledge Agreements) consisting of, among other assets, (i) all of the 34715 Pledgor’s Shares and Leases, as described in those certain Stock Certificates and Leases and (ii) all of Krauss’s membership interest in and to the Pledged Entities, as described in those certain Share Certificates.

Pledgor has alleged there may subtenants at the NY Property which may claim an interest to the NY Property. Copies of the alleged subleases can be obtained from Greg Corbin at Northgate Real Estate Group, whose contact information is set forth below. Neither Secured Party nor Corbin make any representations about the validity or enforceability of the subleases.

Please be advised that certain Event(s) of Default exist under the Loan Documents for, among other things, (i) Borrower's failure to make the monthly payment due on September 1, 2024, and each subsequent payment thereafter (the “Payment Default”) and (ii) Borrower’s failure to provide proof to Secured Party that Borrower has secured insurance for the Property (the “Insurance Default”, together with the Payment Default, collectively, the “Current Defaults”), in accordance with the terms and conditions of the Loan Documents.

Notification of Disposition of Collateral

Notice is hereby given that Lender will sell the Collateral to the highest qualified bidder at a public sale in accordance with the provisions of the Uniform Commercial Code as in effect in the State of New York. The sale will take place beginning at 3:00pm on March 23, 2026.

Online Bidder Qualification Deadline: Interested parties who intend to bid on the Collateral must contact Greg Corbin (“Corbin”), at Northgate Real Estate Group, 1633 Broadway, 46th Floor, New York, NY 10019, (212) 419-8101, greg@northgatereg.com, to receive the Terms and Conditions of Sale and bidding instructions by March 13, 2026 at 3:30pm. Upon execution of a standard confidentiality and non-disclosure agreement, additional documentation and information will be available. Interested parties who do not contact Corbin and qualify prior to the sale will not be permitted to enter a bid. The Pledgor and other obligated parties may be liable for any indebtedness which shall remain after such sale to the extent permitted by applicable law and the Loan Documents.

BID QUALIFICATON DEADLINE
March 13, 2026

3:30 PM

PUBLIC AUCTION DATE
March 23, 2026

3:00 PM

(212) 369-4000 | team@northgatereg.com | www.northgatereg.com

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