Bankruptcy Auction – United States Bankruptcy Court Eastern District of New York
In Re: T.C. Music Co., Inc., Symphonic Holdings LLC – Jointly Administered – Case # 16-72228 (AST)
4,600+ Sq Ft Prime Retail Building in the Heart of Smithtown
Located on Main Street Across from Major Shopping Center
- 27-29 East Main Street, Smithtown, NY 11787
- Ideally Located on Main Thoroughfare in Thriving Town
- 4,656 Sq Ft (Appx) Building + Basement
- .28 Acre Lot
- Full Basement
- Large Municipal Lot Directly Behind Building
- Surrounded by Major Retailers Including CapitalOne, Chase, CVS, H&R Block, People’s United Bank, Starbucks, TFCU, Verizon, Walgreens & Many Others
- First Floor:
- Retail Sales Floor
- Repair Shop
- Access to Rear Parking Lot
- 9 Individual Studios
- 3 Storage Rooms
- Access to Rear Parking Lot
- Additional Information:
- Section: 77 Block: 5 Lot: 42.2
- Central Air Conditioning (Mini-Split System in Basement)
- Fuel: Gas
- Heat: Hot Air
- Property Use: Multiple Use of Multipurposes (480)
- 37.19′ Frontage on Main Street
- Annual Real Estate Taxes without Exemption: $22,136.28
- Currently Occupied & Delivered Vacant at Closing
Viewings: Thursday, September 15th & Monday, September 26th from 12:00 noon – 2:00 pm.
Auction Date & Time: Wednesday, September 28, 2016 at 11:00 am. Registration commences 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/Sales Procedures: Property will be sold free and clear of all monetary liens.In order to register to bid, all prospective bidders must present a bank check in the amount of $50,000 made payable to “SilvermanAcampora, LLP, Attorneys for the Chapter 11 Debtor & Debtor in Possession”. Please download the complete Sales Procedures.
Buyer’s Premium: A five (5%) 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.
SilvermanAcampora, LLP, Attorneys for the Chapter 11 Debtor & 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 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 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.