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Auction Details

600,000+ SQ FT MIXED-USE COMPLEX

Bankruptcy Auction

Former NY State Developmental Facility
6 Buildings on 48 Landscaped Acres

Live Off-Site Auction

Began: Thursday, April 11, 2013 at 11:00 AM EDT

Location: Onondaga County Courthouse, 401 Montgomery Street, Syracuse, NY 13202

Details

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

In Re: Syracuse Resort Development, Inc. • Case No. 11-72881-REG

600,000+ Sq Ft Mixed-Use Complex

Prime Redevelopment Site 48 Acres

Details:

  • 800-802 South Wilbur Avenue, Syracuse, NY 13204
  • Unique Occupancy/Redevelopment Opportunity
  • Full Size Gymnasium w/ Locker Rooms, Olympic Sized Swimming Pool and Bowling Located on Premises
  • Cafes, Lounges and Common Areas Throughout
  • Large Kitchen w/ Industrial Sized Ovens
  • One Main Secured/Monitored Entrance to Entire Property
  • Six Interconnected Buildings w/ 10' Wide Hallways
  • 600 Space Parking
  • Situated on 48 Landscaped Acres w/ Sprawling Views of Downtown Syracuse
  • Close Proximity to Carousel Mall, Syracuse University, and Downtown Syracuse
  • Potential Future Uses:
  •    350-400 Units of Housing/Apartments (Student, Low Income, Etc)
  •    Senior/Adult Care Center
  •    Juvenile Detention Facility
  •    Call Center
  •    Warehouse
  •    R&D Center
  •    Mixed-Use Developments
  •    Private/Charter School
  •    Office Space
  •    Tech School
  •    Corporate Headquarters
  •    And Much Much More...
  • Section: 098.2   Block: 1   Lots: 5.2 & 5.4
  • Market Value as Assessed: $4,250,000
  • Estimated Annual Real Estate Taxes: $164,863.88 (Based on $4,250,000 Assessment)
  • $1,200,000 Minimum Bid

 

Viewings:  Available by Appointment- Please call David Constantino or Debbie Donovan at 516.349.7022 to schedule your viewing.

Auction Date & Time:  Thursday, April 11th at 11:00 am.  Registration begins at 10:00 am.

Auction Location:  Onondaga County Courthouse, 401 Montgomery Street, Syracuse, NY 13202.

Terms & Conditions of Sale: Property will be sold free & clear of all liens, claims and encumbrances.  The Trustee has received and accepted a $1,100,000 offer with next acceptable bid to be $1,200,000.  In order to register to bid, all prospective bidders must present a bank check in the amount of $250,000 made payable to "Kenneth P. Silverman, as Chapter 7 Trustee".  Please download the complete Terms and Conditions of Sale.
 

Kenneth P. Silverman, Esq., Chapter 7 Trustee
Silverman Acampora, LLP., Attorneys for Chapter 7 Trustee
David R. Maltz, Auctioneer DCA# 762794
 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 

This Property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Trustee, Attorneys, Auction Company or any of their Agents.  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.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property, including without limitation.  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
David R. Maltz & Co., Inc.
39 Windsor Place,
Central Islip, NY 11722
p: 516.349.7022 / f: 516.349.0105
info@MaltzAuctions.com