20,000 SQ FT BUILDING

Auction by: Maltz Auctions

Bankruptcy Auction – Date TBA

Prime Location – Requires Complete Renovation

Details

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

In Re: AFP Holdings, Inc., – Case No. 17-42642 (CEC)

20,000± Sq Ft Office Building

High-End Construction with Recent Water Damage – Prime Renovation Opportunity

Details:

  • 54-14 74th Street, Elmhurst, Queens, NY 11373
  • 22,284 Sq Ft Office Building (5 Stories + Celler & Sub-Cellar)
  • 19,834 Sq Ft Net Rentable (Including 638 Sq Ft 5th Floor Terrace & 3,028 Sq Ft Cellar)
  • Extensive Water Damage Throughout
  • First Floor:
  • 2,992 Sq Ft Garage
  • Main Entrance to Building Lobby
  • Private Ground Level Heated Garage with Space for 21 Cars
  • 2nd Floor:
  • 3,466 Sq Ft Office Space
  • Dedicated 15 Ton HVAC System with Separate Gas Meter
  • 200 Amp Panel with Sub-Metering
  • 2 Half-Baths
  • 3rd Floor:
  • 3,466 Sq Ft Office Space
  • Dedicated 10 Ton HVAC System with Separate Gas Meter
  • 200 Amp Panel with Sub-Metering
  • 2 Half-Baths
  • 4th Floor:
  • 3,466 Sq Ft Office Space
  • Dedicated 10 Ton HVAC System with Separate Gas Meter
  • 200 Amp Panel & 200 Amp Emergency Power with Sub-Metering
  • 5th Floor:
  • 2,778 Sq Ft
  • Dedicated 15 Ton HVAC System with Separate Gas Meter (Located in Mechanical Room on Roof)
  • 200 Amp Panel & 200 Amp Emergency Power with Sub-Metering
  • 638 Sq Ft Private Terrace
  • Rooftop:
  • Outdoor Space with City Views
  • Rooftop Mechanical Room
  • Cellar Level:
  • 3,028 Sq Ft Office & Mechanical
  • Dedicated Computer Grade HVAC System for Server Room
  • Separate HVAC for Remainder of Level
  • Sub-Cellar:
  • 3,366 Sq Ft
  • Two Partial Sub-Cellar Levels
  • Designed to House 3 Fuel Tanks for Generator (4,000 Gallon Total Capacity) & 2 Gray Water Detention Tanks (3,500 Gallon Total Capacity)
  • Building Notes:
  • 5-Story Steel Structure with 2-Hour Rated Walls & 5″ Concrete Slabs (Floors 2 – 6)
  • 2 Stairwells & 1 Elevator Servicing Cellar – 5th Floor
  • Cellar Level 15′ Below Grade with Minimum of 12″ Water Resistant Reinforced Concrete Foundation Walls   
  • Sub-Cellar Reinforced with 12″ Foundation Concrete Walls
  • Outside Walls Finished with LEED Certified Owens Corning Insulation (Roof Protected by 3 Layers)
  • Crystal Window & Door Systems Ltd. Thermal Break Aluminum Windows on Exterior of Building
  • Floors 2-5 & Roof Protected by a Wet Sprinkler System
  • Cellar & 1st Floor Protected by a Dry Sprinkler System
  • 3″ Domestic Pipe Delivering Water
  • Two Independent Water Systems
  •      City System Services Lavatory Sinks & Water Fountains
  •      Gray Water System (3,500 Gal) Services Utility Sinks & Toilets
  •      Six Roof Drains to Collect Gray Water
  • 2500 Amp Three Phase 220 VAC Services by Sieman
  •      Four Sub-Meters
  •      Designed for Future Interconnection to Solar System
  •      250 KVA Diesel Driven Emergency Generator
  • Ecospace Elevator by Kone
  • Additional Information:
  • Borough: Queens   Block: 2803   Lot: 28
  • Lot Size: 3,750 Sq Ft (Appx. 50.25′ Frontage x 75′ Depth)
  • Previously Wired for Fire Monitoring, Surveillance, Security & Biometric Security Access
  • Annual Real Estate Taxes: $8,989 ICIP (Industrial and Commercial Incentive Program)
  • Annual Real Estate Taxes without ICIP (ICIP Ending 2025): $134,313

 

Inspection/Viewing: TBA.

Auction Date & Time: TBA.

Auction Location: TBA.

Terms & Conditions of Sale/Bidding Procedures: Property will be sold free & clear of all monetary liens.   In order to register to bid, all prospective bidders must present a cashiers check in the amount of $250,000 made payable to “Goldberg Weprin Finkel Goldstein LLP, as Attorneys”.  Please download the complete Terms & Conditions of Sale/Bidding Procedures.

 

 

Goldberg Weprin Finkel Goldstein 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 Chapter 11 Debtor and Debtor in Possession, nor any of their Professionals, 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 Chapter 11 Debtor and Debtor in Possession, 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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