14K SQ FT WATERFRONT BLDG

Auction by: Maltz Auctions

Bankruptcy Auction

20′ Ceilings – 240′ Water Frontage

Live Off-Site Auction

Begins: Thursday, July 30, 2020 at 1:30 PM EDT

Location: Maltz Auctions, 39 Windsor Place, Central Islip, NY 11722

Details

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Bankruptcy Auction – United States Bankruptcy Court EDNY
In Re: PRECISION STEEL & HOIST SYSTEMS, INC. – Case No. 19-76013-REG

14,000 Sq Ft Waterfront Building on 31,700 Sq Ft Lot

20′ Ceilings – 240′ Water Frontage

Details:

  • 371 South Main Street, Freeport, NY 11520
  • 14,000± Sq Ft Building on 31,700± Sq Ft Lot
  • 17,000 Sq Ft Paved Parking Lot
  • Dock Space for up to 8 Boats
  • Prime Canal Frontage with Access to Jones Bay and the Jones Beach Inlet
  • Active Retail Thoroughfare with Daily Traffic to and from the Nautical Mile (1 Mile Away)
  • Average Daily Traffic Count of 28,422 Vehicles
  • 35′ Street Frontage on South Main Street
  • 240′± Frontage on Freeport Creek
  • Waterfront Rights on North Side of Property Rented to Adjacent Property for $1,000/Month (month-to-month and can be delivered vacant)
  • Building Information:
  • New Office Build-out: 4 Offices & 2 Bathrooms
  • (1) 12′ x 14′ Rear Loading Dock
  • (1) 22′ x 15′ Drive-in Overhead Door (Converted from Loading Dock, Spring Plate Still in Place)
  • (2) Man Doors
  • Ceiling Heights:
  •     Office Space: 9′ Drop Ceilings
  •     Warehouse:
  •        22′-8″ to Roof
  •        20′ to Beam
  • Additional Information:
  • Section: 62  Block: 44  Lot: 426
  • Zoning: Manufacturing LM (Light Manufacturing Zoning District)
  • Property Class: Storage, Warehouse and Distribution Facilities
  • Formerly Configured with Transformer for 400 Amp Electrical Service (Transfer Removed)
  • Municipal Sewer & Water Service
  • Gas Services HVAC, Hot Water & Warehouse Heaters
  • (4) Ceiling Mounted Heaters in Warehouse Space
  • Situated in Flood Zones “X” & “AE”
  • Town of Hempstead
  • School District # 9 (Freeport)
  • Annual Real Estate Taxes: $29,190.75 (School & Town); $11,894.59 (Village)
  • Currently Occupied & Delivered Vacant at Closing
  • Additional Information Available Upon Completion of the Non-Disclosure Agreement – Click Here to Complete


Inspection/Viewing: Tuesday, July 14th, Monday, July 20th & Tuesday, July 28th from 9:00 am – 12:00 noon BY APPOINTMENT – Click here to Schedule an Appointment.

Auction Date & Time:  Thursday, July 30, 2020 at 1:30 pm.

Auction Location: Maltz Auction Gallery, 39 Windsor Place, Central Islip, NY 11722.  Online and Absentee Bidding available with pre-registration.

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 $125,000 made payable to “Robert L. Pryor, Chapter 7 Trustee”.  Please download the complete Terms & Conditions of Sale.

 

 

Robert L. Pryor, Chapter 7 Trustee
Pryor & Mandelup LLP, Attorneys for the Chapter 7 Trustee

Richard B. Maltz, Auctioneer DCA# 1240836
David 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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