TURN-KEY RESTAURANT

Auction by: Maltz Auctions

Live Off-Site Auction

Began: Monday, March 11, 2019 at 2:30 PM EDT

Location: US Bankruptcy Court, 290 Federal Plaza, Central Islip, NY 11722

Details

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

In Re: ANTONETTE’S OF EAST HILLS, LLC. – Case # 18-76802-reg

Turn-Key Restaurant/Banquet Hall

Long-Term Lease Through 2036

Details:

  • 290 Glen Cove Road, East Hills/Roslyn Heights, NY 11577
  • 8,500+/- Sq Ft Restaurant / Banquet Hall
  • $600,000+ in Recent Improvements
  • Fully-Equipped & Decorated Turnkey Opportunity
  • Handicap Accessible
  • Private Parking for Approx. 25+ Vehicles
  • Agreements for Additional Parking on Adjoining Lots after 4:00 pm & on Weekends
  • First Floor:
  • 93-Patron Occupancy
  • Dining Room
  • Full Service  Bar
  • Fully Equipped Commercial Kitchen w/Dishwashing System
  • Coffee Service Area w/Espresso-Cappuccino Machine
  • Coat Room
  • Customer Elevator to 2nd Floor
  • Second Floor:
  • 70-Patron Capacity
  • Banquet Hall
  • Banquet Bar w/Soda System
  • Fully Equipped Secondary Kitchen w/Dishwashing System
  • Linen Room
  • Women’s, Men’s & Handicap-Accessible Bathrooms
  • Basement:
  • Offices
  • Employee Lockers
  • Liquor Storage
  • Soda System for Primary Bar
  • Other:
  • Point-of-Sale System
  • Audio/Video Systems
  • Fully Stocked w/Tables, Chairs, Linens, Tableware, Glassware, Utensils, etc…
  • Fully Decorated w/Window Treatments, Lighting, Art & Decor. High-End Finishes Throughout
  • Kitchens Fully Equipped w/Ranges, Hoods, Fire-Suppression Systems, Ovens, Fryers, Broilers, Prep Tables, Sinks, Dishwashers, Walk-In Box, Refrigeration, Freezers, Ice Machines, Microwave Ovens, Butcher Block, Dough Mixer, Slicing Machine, Gadgets, Chef Tools, Pots, Pans, Trays, Racks and Much More…
  • Lease Information:
  • 18-Years Remaining on Lease 
  • Current Monthly Rent: $13,525
  • Current Annual Real Estate Taxes (Including Village): $73,159

 

Viewings: Wednesday, February 13th & Mondays, February 25th & March 4th from 2:00 pm – 4:00 pm each day.

Auction Date & Time: Monday, March 11th, 2019 at 2:30 p.m.  Registration begins at 1:30 p.m.

Auction Location: US Bankruptcy Court, Outside Courtroom 860, 290 Federal Plaza, Central Islip, NY 11722.

Terms & Conditions of Sale: In order to register to bid, all prospective bidders must present a cashier’s check in the amount of $20,000 made payable to “Spence Law Office, P.C.,  as attorney for Antonette’s of East Hills, LLC”. Please download the complete Terms and Conditions of Sale. 

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.

 

Robert J. Spence, 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 Assets are 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. By delivering their respective Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Assets, the Bidding Procedures, the Amended Asset Purchase Agreement, and will rely solely thereon and on their own independent investigations and inspections of the Assets, the Bidding Procedures, the Amended Asset Purchase Agreement,  in making their bids. Neither Maltz, the Chapter 11 Debtor, Debtor-In-Possession, the Attorney for the Chapter 11 Debtor, Debtor-In-Possession nor any of their collective representatives  makes  any representations or  warrantees  with respect to the permissible uses or condition of the Assets.  All Bidders acknowledge that they have conducted their own due diligence in connection with the Assets and are not relying on any information provided by Maltz, the Chapter 11 Debtor, Debtor-In-Possession, the Attorney for the Chapter 11 Debtor, Debtor-In-Possession, or their professionals.  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 Assets.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Assets.  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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