Auction by: Maltz Auctions

Bankruptcy Sale

Incredible Opportunity on North Salem Bridle Trails – Truly a Must See!
7 Structures on the Property: Indoor Riding Ring, Main Barn w/ 18 Stalls, 2 Stall Barn, 4 Stall Barn, Main House, Caretaker’s Cottage & Garage


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Bankruptcy Sale – United States Bankruptcy Court Southern District of New York

In Re: KAY L. SPEAR – Case # 08-22842-RDD

Impressive 24-Acre Equestrian Compound


  • 955 Peach Lake Road, North Salem, NY 10560
  • Incredible Opportunity on North Salem Bridle Trails (Miles of Groomed Trails) – Truly a Must See!!!
  • Turn-key Horse Boarding Business for the Horse Lover
  • 7 Structures on the Property: Indoor Riding Ring, Main Barn w/ 18 Stalls, 2 Stall Barn, 4 Stall Barn, Main house, Caretakers Cottage & Garage
  • 200′ x 100′ Outdoor Riding Ring
  • 21 Paddocks
  • Grass Riding Fields
  • Main House:
  • 2 Story Colonial
  • 2 Bedrooms & 2.5 Baths
  • Den/Loft
  • Modern Kitchen
  • Hot air
  • Oil Fired Furnace
  • Separate Driveway Entrance
  • 2 Fireplaces
  • 2 Covered Porches
  • Basement Space Approx. 1,170 Sq Ft
  • 2,250+ Sq Ft Living Area (Basement Excluded)
  • Caretaker’s Cottage and Groom’s Apartment:
  • Ranch Style Home Divided into 2 Units (Each 1 Bedroom & 1 Bath)
  • (1) Bath & Both Kitchens Recently Renovated (Kitchen w/ New Cabinetry and Appliances)
  • 4 Car 1,400+ Sq Ft Garage Underneath (Access from Main Road)
  • 1,400+ Sq Ft Living Area
  • Unit 1:(Caretaker’s Cottage)
  • Kitchen
  • Living Room
  • 1 Bedroom & 1 Bath
  • Unit 2:(Groom’s Apartment)
  • Eat-in-Kitchen
  • 1 Bedroom & 1 Bath
  • Living Room
  • Main Barn:
  • Newly Renovated Structure
  • 18 Spacious 12′ x 10′ Sliding Door Stalls
  • 2 Wash Stalls
  • Heated Tack Room
  • Enormous Hay Loft w/ Magnificent Vaulted Ceiling
  • Feed and Storage Areas
  • Half Bath
  • Garage/Storage:
  • 2 Story 1,200+ Sq Ft Detached Garage
  • First Floor Vehicle Storage
  • Second Floor General Storage
  • Additional Structures
  • 4 Stall Barn:
  • Recently Renovated 4-Stall Barn w/ Individual Turnout
  • 30′ x 36′ (1,080 Sq Ft)
  • 2 Stall Barn:
  • 2-Stall Barn w/ Individual Turnout
  • Indoor Riding Ring:
  • Metal Frame Constructed on Concrete Footings
  • 70′ x 120′ (8,400 Sq Ft)
  • Additional Property Information:
  • Section: 8   Block: 1759   Lot: 5
  • Located within Westchester County
  • Close Proximity to Brewster and Metro North Rails
  • Annual Real Estate Taxes: $33,200 (Appx)
  • $999,000 Minimum Acceptable Offer


Viewings: Mondays, April 22nd & 29th from 11:00 am – 1:00 pm.  Appointments available upon request.  Please call Dave Constantino at 516-349-7022 to arrange your viewing.

Sale Date:  Wednesday, May 1, 2013 at 12:00 noon.  Registration begins at 11:30 am.

Sale Location:  The Crowne Plaza White Plains, 66 Hale Avenue, White Plains, NY 10601.

Terms & Conditions of Sale:  The Trustee has accepted an offer of $975,000, subject to higher or better offers that may be tendered to the Trustee at the bankruptcy sale on May 1, 2013. The next acceptable offer will be in the minimum amount of $999,000. In order to submit a competing offer, all prospective buyers must present a certified or bank check made payable to “Marianne T. O’Toole, as Trustee” in the amount of $99,000 and execute the Competing Terms and Conditions of Sale.


Marianne T. O’Toole, Chapter 7 Trustee
Richard B Maltz, Licensed Real Estate Broker
Phone (516) 349-7022 Fax (516) 349-0105

This property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Trustee, Attorney’s for the Trustee, Maltz or any of their Agents. The information contained herein was derived from sources deemed reliable, but is not guaranteed. Most of the information provided has been obtained from third party sources and has not been independently verified. It is the responsibility of the Buyer and/or Buyer’s Broker to determine the accuracy of all measurements and specifications of the property. Each potential buyer is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property, including without limitation, environmental and physical condition of the property. All prospective buyers are urged to conduct their own due diligence prior to submitting an offer.

Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.