FEGS announces $7.7 million winning bid for Brooklyn, N.Y., property

By Caroline Salls

Pittsburgh, May 9 – Federation Employment and Guidance Service, Inc., which does business as FEGS, announced that 3312 Surf Avenue CATS LLC was the high bidder for the company’s Brooklyn, N.Y., property with a $7.7 million offer, according to a notice filed Friday with the U.S. Bankruptcy Court for the Eastern District of New York.

Gershon Matiteeb is the back-up bidder with a proposed $7.5 million purchase price.

As previously reported, 3312 Surf Avenue CATS was the stalking horse bidder for the property with an initial bid of $4.7 million.

The sale hearing is scheduled for May 10.

FEGS is a New York-based nonprofit health and human services organization that filed for bankruptcy on March 18, 2015. The Chapter 11 case number is 15-71074.

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