Full Service Restaurant & Sports Bar

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Full Service Restaurant & Sports Bar

Tuesday, April 15th 10AM

Federal Bankruptcy Court
50 Walnut Street Courtroom 3B
Newark, NJ 07102

BANKRUPTCY AUCTION
re:  Fanwood Ale House, Inc. t/a Sun Tavern 
By Retention of Donald V. Biase, Trustee

The Sun Tavern of Fanwood, NJ
A Well Established & Operating
Full Service Restaurant / Sports Bar

The restaurant is currently open and operating.  The Sun Tavern has been an area favorite for several decades.  The trustee has authorized us to conduct an auction for the restaurant as a going concern.  Therefore the auction will be for the real estate,  "C" liquor license, good will, fixtures & equipment as a package.  They will be offered as a whole and not individually.  

Building Size:  12,400 Square Feet
Lot Size:  38,400 Square Feet

Opening Bid Amount:  $2 million.

This is a rare opportunity to purchase an operating full service restaurant through the bankruptcy court a deep discount.  

 


Auctioneer's Note: 

This auction will take place at the Federal Bankruptcy Court in Newark.  Only qualified bidders will be permitted to participate.  Please read Terms of Auction and the Sale Agreement.

Disclaimer:
While information provided here and in any other advertising material is gathered from sources deemed reliable.  No guarantees or warranties regarding this properties description and / or marketability are being made.  All bidders are bidding based upon their own inspection and due dilligence.  This property is being sold as-is, where-is, subject to court approval.  No contingencies of any kind will be offered.

Auction Terms: 

 

Click Here To View:
Court Stipulated Terms of Sale.

Should anyone need further clarification of these Terms of Sale, please contact our offices at (908) 789-9999.

Bidder Qualifications:

All bidders must come to the auction with a $200,000 Cashier’s Check (made payable to Donald V. Biase, Trustee).  Only registered bidders who have this deposit check will be allowed to participate in the auction.

Balance of bid price due to Trustee in Certified Funds or Wire Transfer within 30 days of the Auction.

All bidders are bound to their bid and their are no contingencies to this auction.  Please download a copy of the Sale Agreement in advance of the auction.

The assets are being sold free and clear of all lien & taxes, subject to confirmation of Bankruptcy Trustee.  There are no contingencies.

No Buyer’s Premium applies at this auction.

Questions?

Is there a survey and/or architectural drawings available? What type of license is it? Are there any known restrictions or violations? Thanks John Boyle

I am licensed real estate broker how would I be protected if my client close the deal? Let me know. Thanks bina

Bina, there is no broker fee being paid in this sale. My suggestion is to get your commission from your buyer. Mike

John, we do not have any drawings or survey. The license is a " C" Consumption License known as a 33 ( for bars and restaurants). We have been informed by the Bankruptcy Trustee that there are no violations on this license. You can, however call the State ABC or the Town of Fanwood to double check on violations. Mike

Is the name "Sun Tavern" included in the auction?

Yes.

Ask auctioneer a question