2.5-ACRE ASSEMBLAGE

Auction by: Maltz Auctions

Live Off-Site Auction

Begins: Thursday, June 15, 2017 at 11:00 AM EDT

Location: LaGuardia Airport Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369

Details

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Bankruptcy Auction – United States Bankruptcy Court Eastern District of New York (And Non-Bankruptcy Auction)

In Re: Auto Gobbler Parts, Inc.  Case # 15-42814-ESS

110,000+ Sq Ft Industrial Assemblage

Available in Four Offerings

Details:

  • Prime location off East 56th Street and Preston Court, East Flatbush, Brooklyn, NY 11234
  • This auction is comprised of three assemblages and four offerings.  Three of the offerings (Offering A, Offering B & Offering C) are being sold pursuant to a bankruptcy court approved settlement agreement.  Offering D is an adjacent parcel that is additionally being offered for sale outside of bankruptcy court jurisdiction and is the only property with a formal minimum bid ($3 million).  There are 12 tax lots within the three assemblages.  The properties benefit from and surround expansive “paper roads” which are presently utilized by property occupants.  This has resulted in a tremendous benefit of approximately 26,300 sq ft of land utilized by occupants of the subject properties.  Please note that these paper roads have not proceeded through a formal abandonment process and that would be the responsibility (if desired) of the successful bidder.  Additionally, all below referenced lot sizes contemplate the property owner on either side owning 50% of the respective paper road.
  • Offerings A & B are Available Individually or in Bulk (Offering C)
  • Offering D is Contemplated to be Offered for Sale Individually at the Auction.  However, if a Prospective Bidder is Interested in Placing a Bulk Bid for All Offerings, an Offer Should be Presented for Consideration Prior to the Auction.  
  • 900′ from Kings Highway (Highly Accessible)
  • 1 Block to Foster Avenue
  • M1-1 Zoning
  • Currently Improved with Various Structures & Primarily Utilized as Auto Wrecking/Scrap & Parts Facility
  • Offering A: 67,286 Sq Ft Lot
  • Block: 7932   Lots: 181, 183, 197, 199, 201, 203, 206 & 212
  • Annual Real Estate Taxes: $86,629
  • Minimum Bid: N/A
  • Offering B: 13,200 Sq Ft Lot
  • Block: 7932   Lots: 207, 208 & 210
  • Annual Real Estate Taxes: $21,640
  • Minimum Bid: N/A
  • Offering C: 80,486 Sq Ft Lot
  • This Offering is for a Bulk-Only Bid on Offering A & Offering B
  • Block: 7932   Lots: 181, 183, 197, 199, 201, 203, 206 & 212
  • Block: 7932   Lots: 207, 208 & 210
  • Minimum Bid: N/A
  • Offering D: 29,782 Sq Ft Lot
  • Block: 7949   Lot: 204
  • Annual Real Estate Taxes: $50,234
  • Minimum Bid: $3,000,000

 

Inspections/Viewings:  TBA.

Auction Date & Time:  Thursday, June 15, 2017 at 11:00 am.  Registration commences at 9:30 am.

Auction Location: NY LaGuardia Airport Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369. 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 liens, claims & encumbrances.  In order to register to bid, all prospective bidders must present a cashier’s check in an amount of; $200,000 to bid on Offering A, $50,000 to bid on Offering B, $250,000 to bid on Offering C and/or $300,000 to bid on Offering D.  All checks for Offerings A, B & C must be made payable to “Robert J. Musso, Chapter 7 Trustee”.  All checks for Offering D must be made payable to Maltz Auctions, Inc.

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.

Buyer Broker Participation:  A one (1%) 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.

 

Robert J. Musso, Chapter 7 Trustee
Rosenberg, Musso & Weiner, LLP, Attorneys for the Chapter 7 Trustee

 Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Phone (516) 349-7022  Fax (516) 349-0105

All sizes and descriptions are estimates and should not be relied upon or deemed accurate.  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 Seller, Auction Company 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 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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