March 20, 2014 at 10:14 PM
FANWOOD, NJ – If you ever had dreams of owning your own bar, bring your checkbook to Federal Bankruptcy Court in Newark on Tuesday, April 15, when the Sun Tavern will be up for auction.
The sports bar/restaurant, located at 15 South Ave. near the corner of Terrill Road, will be offered as a package including the real estate, "C" liquor license, fixtures, equipment, and goodwill. The opening bid amount will be $2 million.
"This is a rare opportunity to purchase an operating full service restaurant through the bankruptcy court at a deep discount," according to the appointed auctioneer, A.J. Willner Auctions website.
“The town is hoping that a serious buyer who sees the great potential in the building and the location will purchase it,” said Fanwood Mayor Colleen Mahr. “The second floor is the only large banquet style facility with parking in Fanwood. I am hoping only good things for that property.”
15 South Ave.
Fanwood, NJ 07023
Opening Bid Amount: $2 million.
Building Size: 12,400 sq. feet
Lot Size: 38,400 sq. feet
United States Bankruptcy Court
50 Walnut Street, Courtroom 3B
Newark, NJ 07102