RETAIL REDEVELOPMENT SITE

Auction by: Maltz Auctions

Live Off-Site Auction

Began: Thursday, June 09, 2016 at 10:00 AM EDT

Location: US Bankruptcy Court, 300 Quarropas Street, White Plains, NY 10601

Details

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

In Re: YEP, LLC – Case # 14-23149 (RDD)

1.7+ Acre Redevelopment Site on Main Thoroughfare

247′ Frontage on East Main Street & Exposure on Bear Mountain State Parkway

Details:

  • 2056-2060 East Main Street, Cordlandt Manor, Westchester County, NY 10567
  • Located Adjacent to & Directly off Exit Ramp of Bear Mountain State Parkway
  • Prime Redevelopment Opportunity
  • 2056 East Main Street
  •   Tavern & Residential Apartment
  •   1.5 Story Structure
  •   1st Floor: 1,222 Sq Ft Tavern
  •   2nd Floor: 480 Sq Ft Apartment
  •   Oil Burner
  •   Hot Water Heat
  •   Partial Basement
  •   11,300 Sq Ft Lot
  •   80′ Frontage on East Main Street
  •   Section: 23.20   Block: 2   Lot: 12
  • 2058 East Main Street
  •   Gas/Repair Station
  •   1,766 Sq Ft Single Story Structure
  •   2 Work Bays w/ Overhead Doors
  •   2 Double Sided Gas Pumps
  •   2 Bathrooms
  •   Hot Water Heat
  •   (2) Double-Wall In-Ground Tanks: 4,000 & 8,000 Gallons
  •   13,000 Sq Ft Lot
  •   90′ Frontage on East Main Street
  •   Section: 23.20   Block: 2   Lot: 11    
  • 2060 East Main Street
  •   1,102 Sq Ft Single Family Home
  •   3 Bedrooms & 1 Bathroom
  •   Full & Unfinished Basement
  •   18,100 Sq Ft Lot
  •   77′ Frontage on East Main Street
  •   Section: 23.20   Block: 2   Lot: 10      
  • Property Known as East Main Street
  •   Vacant Land
  •   32,000 Sq Ft Lot
  •   Section: 23.20   Block: 2   Lot: 13
  • Total Assemblage Information:
  •   1.71 Acre Assemblage (74,400 Sq Ft)
  •   247′ Frontage on East Main Street
  •   Section: 23.20   Block: 2   Lot: 10, 11, 12 & 13
  •   Annual Real Estate Taxes: $28,234.97
  •   Currently Occupied and will be Delivered Vacant at Closing (Occupants Willing to Enter Lease and Continue Occupancy)
  •   $1,125,000 Minimum Bid

 

Inspections/Viewings:  Tuesday, June 7th from 11:00 am – 1:00 pm.

Auction Date & Time:  Thursday, June 9th at 10:00 am.  Registration begins at 9:00 am.

Auction Location:  United States Bankruptcy Court Southern District of New York at White Plains, Jury Assembly Room #164, 300 Quarropas Street, White Plains, NY 10601

Terms & Conditions of Sale/Bidding Procedures:  Property will be sold free and clear of all monetary liens.  A $1,100,000 bid has been received and accepted subject to higher bids at the auction with the next bid to be in the minimum amount of $1,125,000.  In order to register to bid, all prospective bidders must present a bank check in the amount of $100,000 made payable to Kurtzman Matera, P.C. Trust Account”.   Please download the complete Terms and Conditions of Sale/Bidding Procedures. 

Buyer’s Premium:  A six (6%) percent Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.

Buyer Broker Participation:  A two (2%) percent commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines.  Please download the Broker Participation form for details.

 
Kurtzman Matera, P.C., Attorneys for the Chapter 11 Debtor and Debtor In Possession
 Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
 Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022  Fax (516) 349-0105

The Real Property is being sold “AS IS” “WHERE IS”, “WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature, and free and clear of any liens, claims, or encumbrances of whatever kind or nature, with such liens, if any, to attach to the proceeds of sale in such order and priority as they existed immediately prior to the Closing, and the sale of the Real Property is subject to, among other things (a) any state of facts that an accurate survey may show; (b) any covenants, restrictions and easements of record; (c) any state of facts a physical inspection may show; (d) any building or zoning ordinances or other applicable municipal regulations and violations thereof; and (e) environmental conditions. By delivering their respective Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Real Property, the state of title thereof and laws, rules and regulations applicable thereto, and will rely solely thereon and on their own independent investigations and inspections of the Real Property in making their bids. Neither Maltz, the Chapter 11 Debtor & Debtor in Possession, the Attorney for the Chapter 11 Debtor & Debtor in Possession nor any of their collective representatives makes any representations or warrantees with respect to the permissible uses of the Real Property including, but not limited to, the zoning of the Real Property.  All Bidders acknowledge that they have conducted their own due diligence in connection with the Real Property and are not relying on any information provided by Maltz, the Chapter 11 Debtor & Debtor in Possession, the Attorney for the Chapter 11 Debtor & Debtor in Possession, or their professionals.  The Real Property will be sold subject to any and all violations or conditions requiring corrective action.  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 to determine the accuracy of all components of the sale and Property.  Each potential bidder 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 bidders are urged to conduct their own due diligence prior to participating in the Public Auction.  Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.

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