30,000+ SQ FT RETAIL CENTER

Auction by: Maltz Auctions

Bankruptcy Auction

325′ Frontage on 2 Major Thoroughfares

Sealed Bid Auction

Begins: Monday, November 26, 2018 at 5:00 PM EST

Location: 885 Third Avenue, 20th Floor, New York, NY 10022

Details

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

In Re: Sun Property Consultants, Inc. – Case # 16-72267-LAS

30,000+ Sq Ft Retail Strip Center on 2.3+ Acres

325’+ Road Frontage on 2 Major Thoroughfares

Details:

  • 4019-4021 Hempstead Turnpike & 150-166 Route 107 a/k/a Hicksville Road, Bethpage, NY 11714
  • 30,000+ Sq Ft in 2 Separate Buildings
  • 27,000+ Sq Ft Basement w/ High Ceilings
  • Singleton’s Restaurant/Catering was the Main Tenant and this 17,500 Sq Ft of Space is Now Vacant
  • Tenants Include Northwell Health, Brothers 3 Pool, Sushi, Nail Salon & Pub 
  • Parking for 150+ Vehicles
  • 2.38 Acre Lot
  • 267′ Road Frontage on Hicksville Road (Route 107)
  • 60′ Road Frontage on Hempstead Turnpike (Route 24)
  • Combined Average Daily Traffic Count of 65,000+ Vehicles
  • Tremendous Value-Add Opportunity
  • Currently Configured as 9 Retail Units
  • Notable Nearby Retail:7-Eleven, Ace Hardware, Boston Market, BP, Capital One Bank, Citibank, Chili’s, Chase Bank, Honda, KFC, McDonald’s, Quick Check, Tire Aid, Speedway, Shoprite, Starbucks, Stop & Shop, Taco Bell, Target, Walgreens, TD Bank and many others.
  • Additional Information:
  • Section: 46; Block: W;  Lot: 231
  • Zoning: GB – General Business Zone
  • Annual Real Estate Taxes: $267,043.60

 

Inspection/Viewing: Available by Appointment Upon Request.

Overview of Sales Process: This is a two-step bidding process.  The first step is the submission of binding, sealed bids that are due by 5:00 p.m. on Monday, November 26, 2018.  The qualified bidders will be invited to bid at the live auction on Thursday, November 29, 2018 at 11:30 a.m.

 Sealed Bid/Bidder Qualification Deadline: Monday, November 26, 2018 before 5:00 pm.  The required Qualifying Packet (as defined within the Bidding Procedures) and required $350,000 deposit (cashier’s check) must be included for consideration.  See attached Bidding Procedures and Sale Agreement for details. 

Sealed Bid Delivery Location: Yann Geron, Chapter 7 Trustee, c/o Reitler Kailas & Rosenblatt LLC, 885 Third Avenue, 20th Floor, New York, New York 10022 with a copy of the bid to Maltz Auctions, 39 Windsor Place, Central Islip, New York 11722.

Auction Date & Time: Thursday, November 29, 2018, at 11:30 a.m.  (Registration commences at 10:30 am).  Only Qualified Bidders as defined in the Bidding Procedures are qualified to participate. 

Auction Location: United States Bankruptcy Court for the Eastern District of New York, Alfonse M. D’Amato Federal Courthouse, 290 Federal Plaza, in Judge Scarcella’s Courtroom (No. 970), Central Islip, New York 11722.

Terms & Conditions of Sale: The Sale of the Property is in “as is” and “where is” condition, free and clear of all liens, claims, and encumbrances, other than Permitted Encumbrances (as that term is defined in the Sale Agreement), with any such liens, claims, and encumbrances to attach to the Sale proceeds.  Within 48 hours following the auction, Successful Bidder must post a deposit in the total amount of 10% of the high bid.  Please download the complete Bidding Procedures and Sale Agreement. 

 

Yann Geron, Chapter 7 Trustee
Reitler Kailas & Rosenblatt LLC, Attorneys for the Chapter 7 Trustee

 Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
 Richard B. Maltz, Licensed Real Estate Broker

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 Trustee 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, 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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