Public Auction of Seized Property – ALPHA RESTAURANTS LLC
Under the authority granted in N.J.S.A. 54;49-13A, the property to be sold was seized for unpaid State taxes due from:
ALPHA RESTAURANTS LLC (El Toro Loco Modern Mexican Restaurant)
80 Washington St. Bloomfield, NJ 07003
PROPERTY FOR SALE: Consumption Liquor License #: 0702-33-051-008 (Located in the City of Bloomfield)
LOCATION OF SALE : 124 Halsey Street, 2nd Floor, Newark, NJ 07101
DATE & TIME: POSTPONED
MINIMUM BID: $60,000
- Successful bidders must make a minimum deposit of 25% of the respective bid IMMEDIATELY following their successful bid. Failure to do so will result in forfeiture of the bid.
- Payment must be in guaranteed funds, such as cash, certified check, bank check, or money order. No third-party instruments will be accepted.
- Balance, also in guaranteed funds, due by 12 noon on April 3, 2020, at the NJ Division of Taxation’s office at 124 Halsey Street, Newark, NJ 07101, or deposit monies will be forfeited.
- Checks must be payable to: New Jersey Division of Taxation.
- This sale may be postponed or canceled at the discretion of the NJ Division of Taxation.
- NJ Division of Taxation employees or any member of the employee’s immediate family may not participate in this public sale.
- The NJ Division of Taxation reserves the right to receive or reject bids or bidders.
- This liquor license is sold subject to any restriction imposed by the NJ Division of Alcoholic Beverage Control on this license as those set forth in N.J.A.C. 13:2-24.
- The successful bidder for the liquor license must submit a renewal application to the municipality and pay the fee by June 30, 2020, unless the municipality approves the transfer of the liquor license prior to July 1, 2020.
- Failure to timely submit a renewal application will result in forfeiture of all monies paid to the NJ Division of Taxation for the license. The NJ Division of Taxation will assist with the renewal process at the request of the municipality. Any monies paid by the NJ Division of Taxation for the renewal of the liquor license will be reimbursed directly to the NJ Division of Taxation by the successful bidder.
- The successful bidder for the liquor license must submit a complete “good faith” transfer application to the municipality and pay the fee for the transfer of the license by April 16, 2020. Failure to do so will result in forfeiture of all monies paid to the NJ Division of Taxation for the license.
- If the successful bidder makes proper application for the transfer and renewal of the license, passes the background check conducted by the municipality, and the municipality denies the application, then the monies paid to the NJ Division of Taxation will be refunded.
- The NJ Division of Taxation has the right to go to the next highest bidder or re-auction the license.
INFORMATION ABOUT THE PROPERTY MAY BE OBTAINED FROM :
Ron Blackowski, Supervising Investigator - 1-973-648-4596
Michael Soliman, Investigator II - 1-973-648-4807