2,300 SQ FT RETAIL CONDO

Auction by: Maltz Auctions

Bankruptcy Auction

Corner Multi-Level Condominium

Live Off-Site Auction

Begins: Thursday, October 24, 2019 at 11:00 AM EDT

Location: NY 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: 711 PARK PL. REALTY, LLC. – Case # 18-47120-cec

2,300 Sq Ft Retail Condominium

Corner Multi-Level Unit

Details:

  • 1448 Bedford Avenue, #1A, Crown Heights, Brooklyn, NY 11216
  • Currently Configured as 2 Units with Single Access Point
  • Potential to Add Private Access to 2nd Space (Currently Accessible on Bedford, Potential Access on Park)
  • Approximately 2/3 of the Unit has been Renovated by Real Estate Office
  • Commercial Space Located on 1st Floor of Building and Partial Cellar Space
  • Total Unit Size Estimated at 2,300 Sq Ft
  • Real Estate Office Configuration (Front Space):
  • Main Level/Entrance:
  •   Reception Area
  • Upper Level:
  •   Executive Office
  •   Sales Floor
  •   Meeting Room
  •   Half Bath
  • Lower Level:
  •   Sales Floor
  •   Meeting Room
  •   Half Bath
  • Rear Office Space:
  •   Single Level Currently Utilized as Storage Space
  •   Open Office Space
  •   Half Bath
  •   Kitchenette
  • Additional Information:
  • Block: 1231  Lot: 1001
  • Stand-Alone Boiler and Hot Water Heater Dedicated to Commercial Space
  • Single Gas Meter
  • 2 Electric Meters
  • Real Estate Office Currently Heated/Cooled with Multiple Mini-Split Ductless Systems
  • Common Charges: $1,716
  • Annual Real Estate Taxes: $25,879.84
  • Currently Occupied & Delivered ____ at Closing
  • $799,000 Minimum Bid

 

Inspections/Viewings: TBA.

Auction Date & Time: Thursday, October 24, 2019 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: Property will be sold free & clear of all liens, claims and encumbrances.  In order to register to bid, all prospective bidders must present a certified check in the amount of $75,000 made payable to “McLoughlin, O’Hara, Wagner & Kendall, LLP, as Attorneys”.  Please download the complete Terms and Conditions of Sale.

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.

 


McLoughlin, O’Hara, Wagner & Kendall LLP, Attorneys for the Chapter 11 Debtor and 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 Seller nor any of their collective representatives makes any representations or warranties 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.

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