5,800+ SQ FT BROWNSTONE

Auction by: Maltz Auctions

Bankruptcy Auction

7 Vacant Units (More Anticipated)

Sealed Bid Auction

Begins: Monday, December 07, 2020 at 11:59 AM EST

Ends: Monday, December 07, 2020 at 12:00 PM EST

Location: 39 Windsor Place, Central Islip, NY 11722

Online Bidding Only

Begins: Wednesday, December 09, 2020 at 10:59 AM EST

Ends: Wednesday, December 09, 2020 at 11:00 AM EST

Details

Click on any image to view larger.

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

 In re: 60 91st Street Corp. – Case # 20-10338 (SCC)

5,800+ Sq Ft Brownstone Building

7 Vacant Units (More Anticipated)

Details:

  • 60 West 91st Street, Upper West Side, Manhattan, NY 10024
  • 5,870 Sq Ft Building
  • 9 Residential Units
  • Within Blocks of Desirable Retail and Restaurants: Bed Bath & Beyond, Bodrum, Carmines, D’Agostinos, Gennaro, Mido, Starbucks, Trader Joes, Whole Foods & Many Others
  • Half Block to Central Park
  • 5 Blocks to MTA Subway 96th St and 86th St Stations (C & B Lines)
  • 6 Blocks to MTA 96th St and 86th St Stations (1, 2 & 3 Lines)
  • Unit Breakdown (7 of 9 Currently Vacant):
  • Unit A: Debtor Occupied
  •     Monthly Rent: $1,681.62
  •     Rent Stabilized Status
  •     First Floor & Basement
  •     Anticipated to be Delivered Vacant – Court Order Directing Vacancy by 1/11/2021 was Entered 11/19/2020
  • Unit B: Vacant
  •     Monthly Projected Rent: $882.35
  •     Rent Stabilized Status
  • Unit C: Vacant
  •     Prior Monthly Rent: $2,000
  •     Free Market Status
  • Unit D: Vacant
  •     Monthly Projected Rent: $2,000
  •     Free Market Status
  • Unit E: Vacant
  •     Monthly Projected Rent: $2,000
  •     Free Market Status
  • Unit F: Occupied
  •     Monthly Rent: $884.50
  •     Rent Controlled Status
  •     Tenant Open to Relocation – Potentially Delivered Vacant
  • Unit G: Vacant
  •     Monthly Rent: $2,000
  •     Free Market Status
  • Unit H: Vacant
  •     Monthly Rent: $1,523.96
  •     Rent Stabilized Status
  • Unit I: Vacant
  •     Monthly Rent: $2,188.81
  •     Rent Stabilized Status
  • Additional Information:

  • Borough: Manhattan  Block: 1204  Lot: 54
  • Year Built: 1890
  • Building Class: Walk-up Apartments – Converted Dwelling or Rooming House (C5)
  • Building Zoning: R7-A
  • Lot Size: 2,013 Sq Ft (100.67′ Depth x 20′ Frontage)
  • 2020-2021 NYC Market Value: $4,667,000
  • Annual Real Estate Taxes: $82,174 (Tax Class 2B: 7-10 Residential Rental Building)

 

Inspections/Viewings: Available by Appointment.

Bidder Qualification Deadline: Monday, December 7, 2020 before 12:00 noon. See attached Bidding Procedures or call Richard Maltz (x202) for details. 

Auction Date & Time: Wednesday, December 9, 2020 at 11:00 am.  Only Qualified Bidders as defined in Sale Terms are qualified to participate.

Auction Location: Virtual Auction via RemoteBidding.MaltzAuctions.com or the MaltzAuctions App – Zoom Video Available.

Sales Guidelines:  Property will be sold free and clear of all monetary liens. In order to register to bid, all prospective bidders must comply with the Sale Terms which include, but are not limited to providing a $250,000 wire transfer to the Chapter 11 Trustee and delivering the Qualification Documents.  Please download the complete Sale Terms.

Buyer’s Premium: A four and one half (4.5%) 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. 

 

Heidi J. Sorvino, Chapter 11 Trustee

 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 whatsoever, and free and clear of any and all interests including, but not limited to, liens, claims, encumbrances, interests, judgments and/or mortgages, or adverse claims to title, of whatever kind or nature (collectively, “Interests”), with such Interests, if any, to attach to the proceeds of sale in such order and priority as they existed immediately prior to the entry of the Order for Relief against debtor 60 91st Street Corp., and subject to, among other things: (a) any and all leases, tenancies or occupancy rights; (b) any state of facts that an accurate survey may show; (c) any state of facts a physical inspection may show; (d) any covenants, restrictions and easements of record; (e) any building or zoning ordinances or other applicable municipal regulations and violations thereof; and (f) environmental conditions. By delivering their respective deposits, all prospective 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, the attorneys for the Trustee nor any of their collective representatives make 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 prospective 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, the attorneys for the Trustee or any of their collective representatives. 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 all prospective bidders to determine the accuracy of all components of the sale and Real Property.  All prospective bidders are responsible for conducting their own independent inspections, investigations, inquiries, and due diligence concerning the Real Property, including without limitation, the environmental and physical condition of the Real 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.

AuctionServices