Auction by: Maltz Auctions

Mortgagee Directed Auction

Prime Location – Extensive Local Redevelopment

Live Off-Site Auction

Began: Wednesday, July 26, 2017 at 11:00 AM EDT

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


Adjacent New Construction:

Adjacent New Construction

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Mortgagee Directed Auction

3,800+ Sq Ft Retail Building

Prime Location – Extensive Local Redevelopment


  • 281-283 S Broadway, Yonkers, NY 10705
  • Prime Location on Main Retail Thoroughfare within Getty Square
  • Single Story 2,040 Sq Ft Building + 1,800 Sq Ft Finished Basement (Appx Sq Ft)
  • Potential to Build Additional 15,760 Sq Ft
  • BA Zoning – (General Business and Apartment Houses, High-Density)
  • .5 Miles from Metro North & 30 Minutes to Manhattan
  • Across the Street from Ludlow Street Bus Line (0001, 0002, & 0004)
  • Upper Level:
  • 6 Offices
  • Half Bath
  • Receptionist Area
  • Waiting Area
  • Kitchenette
  • Storage Closet
  • Lower Level:
  • 3 Offices
  • Open Office Floor Space
  • Storage Closet
  • Utility Room 
  • Exterior Access
  • City of Yonkers Redevelopment Highlights:
  • 1 Billion Dollars Committed to Current/Future Development in the City Yonkers
  • 5,000 Multi Family Residential Units recently Completed, Under Construction and Approved
  • 1,200 New Hotel Rooms, Including Hotels by Hyatt and Marriott
  • 72-Unit Complex Currently Under Construction Behind Subject Building (Ludlow Commons)
  • Notable Developers: RXR, Ginsburg, Mill Creek, Simone, Extell, Collins, Avalon Bay and others
  • Additional Information:
  • Tax Map ID#: 1.-185-41
  • Maximum FAR: 4
  • Total Potential Buildable: 19,600 Sq Ft
  • Previously Occupied by Law Firm for 25+ Years
  • Lot Size: 4,900 Sq Ft (133.5′ x 37.5′ appx & irregular)
  • Annual Real Estate Taxes: $16,121
  • Currently Vacant & Delivered Vacant at Closing
  • $450,000 Opening Bid


Inspections/Viewings: Mondays, July 17th & 24th from 10:00 am – 12:00 noon.

Auction Date & Time: Wednesday, July 26, 2017 at 11:00 am.  Registration begins 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: The 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 $45,000 made payable to “Maltz Auctions, Inc.”.  Please download the complete “Terms & Conditions of Sale”.

Buyer’s Premium: An 8% 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: Up to a 2% percent commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines.  2% will be paid on the amount of the opening bid and 1% will be paid on the difference between the opening bid and high bid at auction.  Please download the Broker Participation form for details.

 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 Seller, 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 Seller, 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.