New York Racing Association, Inc. Directs Immediate Sale via Public Auction
64 Surplus Tax Lots: 325,000+ Sq Ft
Available in Assemblages and Individually
- Ozone Park, NY 11417
- Lots/Assemblages Range from 300 Sq Ft - 75,000 Sq Ft
- Prime Opportunity to Build Your Dream Home or a Entire Subdivision
- Potential for 75+ Two Family Homes
- 64 Surplus Tax Lots
- R4 Zoning
- Please Download "Offering Overview" Under Documents Tab on Right Side of Screen for Complete Info on All Properties
- Surveys Available for Download
Bidder & Broker Seminars: Learn about the auction process from A - Z. Wednesday, June 3rd. Broker seminar starts at 5:00 pm. Bidder seminar starts at 6:00 pm.
Auction Date & Time: Wednesday, June 10th at 1:00 pm. Registration begins at 11:00 am.
Auction Location: Aqueduct Racetrack, 110-00 Rockaway Boulevard, Ozone Park, New York 11417.
Terms & Conditions of Sale: Properties will be sold free & clear of all monetary liens. Closing must occur within 45 days of the auction. Sample Terms & Conditions of Sale are Available for download under the "Documents" tab.
Deposit Requirements: A $7,500/lot deposit will be required to register to bid. For example, if there are 4 lots in an offering, you will be required to post a $30,000 deposit. A $350,000 deposit will be required to bid on all 64 lots in bulk. Within 48 hours following the auction the successful bidder must remit a total of 16% of the high bid at auction (10% deposit + 6% buyer's premium). All deposits are required to be in certified funds and made payable to "Certilman, Balin, Adler & Hyman LLP as Escrow Agent".
Sale Process: The Properties will first be offered for sale in bulk (all 64 lots), then as 22 individual offerings (as identified) and finally as individual lots (landlocked properties will not be offered for sale individually). The properties will be sold under whichever scenario realizes the highest or best offer.
Buyer Broker Participation: A two percent (2%) 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.
Buyer's Premium: A six percent (6%) Buyer's Premium will be added to the successful bidder's high bid to determine the contract price to be paid by the purchaser.
David R. Maltz, Auctioneer DCA# 762794
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022 Fax (516) 349-0105
These properties are being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either expressed or implied, concerning these properties are made by the Seller, 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. It is the responsibility of the Buyer and/or Buyer's Broker to determine the accuracy of all measurements and specifications of the properties. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the properties, 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 Sale.
Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.