@THEBRISTOLPRESS

BRISTOL — The new owners of a manufacturing facility that houses longtime engineering and machining company RGD Technologies may lose that building as it goes on the auction block May 30, according to a recent legal notice.

However, the sale is not expected to have an impact on RGD, according to founder Bob Dabkowski whose business is located at the 50 Emmett St. property.

“We’re not going anywhere,” Dabkowski said. “We’re at 30 people right now and business has been good.”

As for the building?

“I don’t own the building anymore,” he said. “It (the foreclosure) is between the new owner and the financier. It shouldn’t have an effect on the leases.”

Dabkowski’s RGD Realty LLC sold the 205,128-square-foot building and 9.1 acres at 50 Emmett St. in November 2023 to 50 Emmett Street LLC for $7.1 million. As part of the sale agreement, RGD agreed to stay in the property as a tenant.

As part of the sale agreement, Emmett Group LLC, a Connecticut LLC, issued 50% membership interest to each of Hendel and Moses Gold. It is those ownership certificates the private bank is foreclosing on.

Mannion Auctions LLC will conduct a public sale of the 50 Emmett St. property in Bristol via online bidding at 3:30 p.m. on May 30 to satisfy a debt of $5,926,111 owed by Hendel and Moses Gold of Brooklyn, New York, of 50 Emmett Group LLC. Under the Uniform Commercial Code of New York State, the bank is foreclosing on the rights to the property for lack of mortgage payments.

The ownership of the property falls under New York UCC law because the owners are based there.

Northgate Real Estate Group, a New York City-based bankruptcy, foreclosure and restructuring brokerage firm, is handling the UCC foreclosure, according to Greg Corbin, president.

“The auction won’t change anything for the tenants,” Corbin said. “Whoever buys the property will have the same (financial) issues as the current owner.”

According to a brochure for the auction, the building is considered collateral for the unpaid outstanding debt. It is divided into nine units and has seven tenants and 200 parking spaces as of the May 15 legal notice in The Bristol Press. RDG Technologies occupies 85,000 square feet, or 41% of the building, while Damato Construction occupies 19,500 square feet. Other tenants include Bristol Girls Little League Softball, solar power company Verogy, Lock Machine LLC, Pro Excavation, and Plainville Machine & Tool Co.

Also, the brochure mentions there is a total of 76,000 square feet of vacant space at the property. The lost rental revenue from these two spaces equals about $422,000 a year.

According to the legal notice, the deadline for submitting bids on the property is May 28 at 3:30 p.m., while the auction will be held on May 30 at 3:30 p.m. Manion Auctions LLC will conduct the sale in an online auction via Zoom. The meeting link is bit.ly/50EmmettUCC, meeting ID is 839 8584 4234; passcode is 745473.

Anyone who intends to bid on the property can contact Corbin at Northgate (212) 419-8101 or greg@northgatereg.com, to receive the terms and conditions of sale and bidding instructions.