Sudbury Building Rights Up For Grabs
The Chapter 7 bankruptcy trustee for Melville, N.Y.-based Northwood Properties LLC is accepting bids for the remaining building rights to the developer's senior housing development in Sudbury.
KPMG CF Realty Finance LLC will market and sell the building rights to 42 senior condominiums at the Northwood at Sudbury development. The deadline to submit offers or letters of intent is August 5.
The Northwood at Sudbury complex is approved for 66 units and an activities building. Two buildings containing 24 units have already been built, as has the activities building. The 24 completed units have all been sold and are currently occupied.
The purchaser of the building rights receives the building permits and all town approvals for the project. Any bids must be approved by the federal Bankruptcy Court.
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