GAIA Real Estate has acquired 90 condo units in a bulk sale
for $52.5 million from the original sponsor at Bridge Tower Place, a luxury condo building on the Upper East Side.
The second round on February 19 would be 'for the bulk sale
of 438 residential lots located in Green Farm Royale Subdivision, Barangay Pulong Bunga, Silang, Cavite.' The bulk sale
involves a total lot area of 94,514 sq m.
Many tax professionals who consult on transactions involving the sale of a New York business operation often overlook the state's bulk sale
notification requirements, which could represent a trap for the unwary.
A sale of any one or more of these components constitutes a bulk sale
. The buyer may be held liable for the seller's income tax if the buyer does not notify the state by following the bulk-sale notification procedures outlined in the statute (see 86 Ill.
From the South Florida website: A six-month-old law designed to spur the bulk sale
of troubled condo projects throughout the state has been credited with about $1 billion in property sales, according to an author of the legislation.
This "sell-through" method typically produces a much higher gross recovery than a bulk sale
, since a portion of the finished goods are sold at a higher percentage of cost and, in some cases, at a profit margin.
The local company which purchased the bottles of Veuve Cliquot received a bulk sale
discount on the order from S.H.
The risk of a transferee running off with the bulk sale
proceeds leaving creditors high and dry has been greatly reduced.
One common type of transaction that, surprisingly, has never been addressed by the courts is the bulk sale
The companies added that the bulk sale
included a large quantity of machines, equipment and systems used in the recycling of catalytic converters.