MIXED-USE CORNER BLDG

Auction by: Maltz Auctions

Live Off-Site Auction

Begins: Thursday, March 26, 2020 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: ANDRA’S REDEMPTION, INC. – Case # 17-40825 (NHL)

3,300 Sq Ft Mixed-Use Corner Building

1 Retail Storefront & 3 Residential Apartments 

Details:

  • 104-07 95th Avenue, Ozone Park, Queens, NY 11416
  • a/k/a 94-19 104th Street, Ozone Park, Queens, NY 11416
  • 3,300 Sq Ft Building + Full & Finished Basement
  • Currently Structured as 1 Retail & 3 Residential Units (Plus Basement)
  • 1,089 Commercial Sq Ft
  • 2,211 Sq Ft Residential Sq Ft
  • 2,025 Sq Ft Lot (22.5′ x 90′)
  • Recently/Substantially Renovated with New Plumbing, Electrical & Roof
  • Currently Generating $8,200/Month and $98,400 in Annual Gross Income
  • 1st Floor (1 Commercial Storefront & 1 Residential Unit):
  • 1,050+ Sq Ft Commercial Space with Half Bath
  •     Occupied by Nutritional Consultants/Eatery
  •     Lease Expiration: November of 2024
  •     Monthly Rent: $2,500
  • 2 Bedroom Apartment in Rear
  •     Full Bath
  •     Kitchen/Living Room Combination
  •     Lease Expiration: January of 2021
  •     Monthly Rent: $1,200
  • 2nd Floor (1 Residential Unit):
  • 3 Bedroom Apartment
  •     Full Bath
  •     Eat-in Kitchen
  •     Living Room
  •     Lease Expiration: April of 2020
  •     Monthly Rent: $2,000
  • 3rd Floor (1 Residential Unit):
  • 3 Bedroom Apartment
  •     2 Full Baths
  •     Kitchen
  •     Living Room
  •     Family Room
  •     2 Bedrooms, 1 Bath & Living Room Currently Separated by Drywall
  •     Currently Utilized as Airbnb
  •     Monthly Income Appx. $2,500
  •     Delivered Vacant at Closing
  • Full Basement:
  •     Partially Finished
  •     75% Renovated (Appx)
  •     Access from within Building and 2 Sidewalk Cellar Doors
  • Additional Information:
  • (2) Electric Meters
  • (1) Gas Meter (with Setup for Additional Meter)
  • Fuel: Gas
  • Heat: Gas-Fired Hot Water Heat System
  • Year Built: 1920
  • Building Dimensions: 20′ x 55′
  • R4-1 Zoning District
  • Half Mile to 104th Street MTA Subway (J & Z Lines)
  • Half Mile to 104th Street Oxford Avenue MTA Subway (A Line)
  • 1.5 Blocks to Atlantic Avenue MTA Bus Stop (Q24 Line)
  • 2 Blocks to 101 Avenue MTA Bus Stop (Q8 Line)
  • Within 1 Block of MTA Q3 & Q4 Bus Lines
  • Borough: Queens   Block: 9385  Lot: 54
  • Annual Real Estate Taxes: $7,862.24
     

 

Viewings: Mondays, March 16th & 23rd from 10:00 am – 12:00 noon.

Auction Date & Time:  Thursday, March 26, 2020 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 the auction, please call for details. 

Terms & Conditions of Sale: 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 $75,000 made payable to “Rosenburg Musso & Weiner LLP, as Attorneys”.   Please download the complete Terms & 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.

Broker Participation: A two (2%) percent commission will be paid to any properly licensed Buyer Broker who registers a Successful Buyer in accordance with the Buyer Broker guidelines.  Please download the Broker Participation Form for details.

  


Rosenberg Musso & Weiner, Attorneys for 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 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 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 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 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 Property including, but not limited to, the zoning of the Property.  All Bidders acknowledge that they have conducted their own due diligence in connection with the Property and are not relying on any information provided by Maltz, the seller or their professionals.  The 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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