26,000 SQ FT BUILDING

Auction by: Maltz Auctions

Live Off-Site Auction

Begins: Wednesday, July 26, 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

In Re: William Ippolito – Case # 16-45609-cec

26,000 Sq Ft Block-Through Industrial Building

38,500 Sq Ft Assemblage

Details:

  • 484 Sharrotts Road, Charleston, Staten Island, NY 10309
  • Block: 7328;  Lots: 290, 293 & 363
  • Highly Accessible with 6 Exit/Entrance Ramps Within 1 Mile off 440 & Korean War Veterans Parkway
  • Tremendous Local Redevelopment
  • Zoning: M1-1
  • Max Allowable Commercial FAR: 1
  • Max Allowable Facility FAR: 2.4
  • Current FAR: .65
  • 100′ Frontage on Sharrotts Road & 310′ Frontage on Marjorie Street
  • Parking for 40+ Autos
  • Lot 293: 26,000 Sq Ft Warehouse (Prime Multi-Tenant Layout)
  •   27,500 Sq Ft Lot
  •   26,000 Sq Ft 2-Story Building (1st Floor Warehouse & 2nd Floor Office)
  •   Warehouse 1st Floor: 8 Drive-Though Bays – 16 Electric Doors
  •   Warehouse 2nd Floor: Poured Concrete Floor, Multiple Configuration Options
  •   1600 AMPS Brought to Building Underground
  •   8″ Water Main
  •   13 Electric Meters & 12 Gas Meters
  •   12 Bathrooms
  •   2 Stairwells & 1 Elevator  
  • Lot 290: Parking Lot
  •   5,500 Sq Ft Lot (50′ x 110′)
  •    Currently Utilized as Gated Parking Lot
  • Lot 363: Vacant Lot
  •   5,500 Sq Ft Lot (50′ x 110′)
  •   Currently Vacant Land
  • Additional Information:
  • Block: 7328;  Lots: 290, 293, 363
  • Annual Real Estate Taxes: $53,478
  • The Property shall be delivered vacant of tenancies at Closing with the exception of lot #’s 290 and 363 “License Agreement Lots”.  The License Agreement Lots shall be rented back to the Debtor for a total of $2,000/month for three months from the days of closing (total rent of $6,000 over the three month period).  Debtor shall post an $18,000 security deposit to ensure vacany at the end of three months.
  • Currently Seeking Stalking Horse Bids

 

Viewings: Wednesdays, July 12th & 19th from 1:00 pm – 3:00 pm.

Auction Date & Time: Wednesday, July 26, 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/Bidding Procedures: 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 $200,000 made payable to “Rachel Blumenfeld, Esq., Escrow Account”.   Please download the complete 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.

 


Rachel Blumenfeld, Esq., Attorney 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 Chapter 11 Debtor and Debtor in Possession, the Attorney for the Chapter 11 Debtor and 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 Trustee, the Attorney for the Trustee, 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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