MANCHESTER — Part of the bankrupt Isaacson Steel business in Berlin could have a new owner as soon as today after a U.S. Bankruptcy Court judge gave preliminary approval.

David Presby, manager of Presby Steel LLC in Whitefield, said after the hearing he was eager to get to work this morning with the signing of final papers.

The warehouse business, which Presby is seeking to buy for $250,000, is off East Milan Road in the city's Industrial Park, Isaacson bankruptcy attorney William S. Gannon said.

“Our primary goal is to preserve the employees,” he said.

“We have gotten enormous support from state government, right up to Gov. Lynch,” Gannon said. The state Business Finance Authority and Berlin Industrial Park also have been supportive, he said.

At the hearing, Judge J. Michael Deasy said he would issue an order after the parties submit final wording for an asset purchase agreement.

There are also ongoing negotiations with a potential buyer for Isaacson Structural Steel's land, building and fixtures as well as equipment at 40 Jericho Road assets. Isaacson Steel and Isaacson Structural Steel filed for bankruptcy protection in June 2011 and the cases are being jointly administered by the court.

Last week, the Berlin Reporter identified that potential buyer as Heico Companies LLC of Downers Grove, Ill. Heico did not immediately return a call from the New Hampshire Union Leader.

Interested parties can submit non-binding indications of interest with the court by Feb. 8 and must meet a final bid deadline of Feb. 20 at 4 p.m.

Isaacson has asked for a hearing on the proposed sale on March 5.

For the warehouse site, Isaacson will terminate all of its employees but Presby plans to hire most of them back, Gannon said. There are approximately 20 to 30, he said.

The purchase includes a metal cutting band saw, other tools, several trucks and trailers.

Presby will agree to a new lease with Berlin Industrial Park.

At the hearing, Gannon said Presby agreed to drop a Toyota Camry valued at about $9,000 from the purchase and increase the price from an initial offer of $225,000 to $250,000.

“He's paying about $34,000 more for slightly less,” Gannon said.

Major entities owed money in the case include the Business Finance Authority and Passumpsic Bank.