EQUESTRIAN CENTER

Auction by: Maltz Auctions

Bankruptcy Auction

Includes Permit Facilitating Use of State Land & 5 Miles of Riding Trails

Live Off-Site Auction

Began: Wednesday, September 28, 2016 at 11:00 AM EDT

Location: 39 Windsor Place, Central Islip, NY 11722

Details

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

In Re: 499 Winding Road Corp. – Case # 816-70651-REG

Equestrian Center – Adjoins Bethpage State Park Riding Trails

Includes Permit Facilitating Use of State Land & 5 Miles of Riding Trails

Details:

  • 499 Winding Road, Old Bethpage, Nassau County, NY 11804
  • Extremely Rare Opportunity – Property Adjoins Bethpage State Park (5 Miles of Bridle Path)
  • Property is .83 Acres and has Direct Benefit of Several Additional Acres
  • Prime Location Under 40 Minutes from Manhattan
  • Main Structures: Main Barn, Secondary Barn, Indoor Riding Ring, 2 Outdoor Riding Rings, Workshop, Office/Riding Shop, Tack Room/Locker Room & Standalone Stalls/Paddocks
  • $500,000 in Recent Renovations
  • Permit Provides Right to Operate on New York State Park Land and 5 Miles of Trails
  • Parking for Customers and Horse Trailers
  • Main Barn
  •    48 Stalls
  •    Electricity & Water
  •    Electric Heaters
  •    Water Drainage
  • Secondary Barn
  •    18 Stalls
  •    Electricity & Water
  • Indoor Riding Ring
  •    Dimensions: 125′ x 75′
  •    Electricity & Water
  •    Sprinklers for Ground Maintenance
  •    Concrete Footings
  •    2 Horse Entrances
  • 2 Outdoor Riding Rings
  •    Dimensions: 175′ x 60′ and 125′ x 60′
  • Workshop
  •   Electricity & Water
  •    Heated
  • Office/Riding Shop
  •    Electricity
  •    Central Air Conditioning
  • Tack Room/Locker Room
  •    Temporary Structure
  •    Electricity
  •    4 Exterior Wash Stalls
  • Plus Additional Paddocks & Stalls
  •  
  • Additional Information:
  • Permit Provides Right to Use State Park Land Adjacent to Property
  • $2,500 Annual Permit Fee
  • If Existing Tenant Doesn’t Remain, the Sale is Contingent on New Buyer Receiving Permit
  • Current Tenant’s Proposed Lease Expires August 31, 2017 ($8,500 Monthly Rent) and is Terminable by Debtor or Buyer on 30 Days Notice.  Buyer shall have the Option of having the property delivered vacant at closing, if desired.
  • Monthly Rent Under Expiring Lease (August 31, 2016) is $8,500/Month
  • Potential to Achieve Agricultural Tax Status
  • Sale Includes Certain Personal Property: 10 Horses, 2 Trailers, 2 Tractors & Miscellaneous Hand Tools & Equipment
  • Annual Real Estate Taxes: $59,005.43 (Appx)
  • Section: 47   Block: A   Lot: 261

 

Viewings:  Available by appointment on Wednesday, September 14th & Thursday, September 22nd.

Auction Date & Time:  Wednesday, September 28th at 11:00 am.  Registration begins at 10:00 am.

Auction Location:  Auctioneer’s Gallery, 39 Windsor Place, Central Islip, NY 11722. Online & absentee bidding available with registration at least 5 business days prior to auction, please call for details. 

Terms & Conditions of Sale: Property will be sold free and clear of all monetary liens. In order to register to bid, all prospective bidders must present a cashier’s check in the amount of $75,000 made payable to “Pryor & Mandelup, LLP, Attorneys for the Chapter 11 Debtor and Debtor in Possession.  Please download the complete Terms and Conditions of Sale. 

 


Pryor & Mandelup, LLP, 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 Debtor, the Attorney for the Debtor 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 Debtor, the Attorney for the Debtor, 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.

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

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