HAMPTONS ENCLAVE TO BE AUCTIONED DUE TO PARTNERSHIP DISSOLUTION

Bulk Sale Scheduled for November 18th, 2015

(Central Islip, NY) October 27, 2015- Maltz Auctions, a leading full-service auction company serving the New York metropolitan region, announced today it will auction a gated enclave of five estate homes/lots, known as “Weathervane Estates” including the renowned Historic Jessup Homestead, located at 52 Quogue Street, south of the highway in the heart of Quogue Village, N.Y., in bulk, on November 18th, 2015, due to partnership dissolution.

“This is an incredible opportunity for a family looking for a Hampton’s compound- or a builder. Three homes are 60-90% completed and there are two approved building lots.” said Richard Maltz, president of Maltz Auctions. “The workmanship that went into the homes is superior and there is condominium ownership- single family home living with all the conveniences of condominium living.”

Call 516.349.7022 to schedule a viewing. The auction is set for Wednesday, November 18th at 1:00 pm at 52 Quogue Street, Quogue, N.Y. Registration will begin at noon.

The enclave consists of:

Lot #1:  170+ Year Old Historic “Jessup Homestead”

Restored/Renovated 3,800± Sq Ft Historic Home (90% Complete)

Top-of-the-Line finishings with impeccable attention to detail

3,797 sq ft living area + full unfinished 1,700 sq ft basement (9′ Ceiling)

In-ground gunite pool with spillover spa (100% complete)

.60 Acre Lot

Previously Listed at $3,600,000

Lot #2: 3,600± sq ft home (65% Complete)

3,577 sq ft living area + full unfinished 2,000 sq ft basement (9′ Ceiling)

In-ground gunite pool with spillover spa and poolhouse

Detached 2-car garage

.46 Acre Lot

Lot #3: 3,600± sq ft home (60% Complete)

3,595 sq ft living area + full unfinished 2,000 sq ft basement (9′ Ceiling)

In-ground gunite pool with spillover spa and poolhouse

Detached 2-car garage

.48 Acre Lot

Lot #4: Approved building lot

Approved site plan for 3,600 sq ft home (2,000 sq ft footprint)

.31 Acre Lot

Lot #5: Approved building lot

Approved site plan for 3,600 sq ft home (2,000 sq ft footprint)

.37 Acre Lot

Additional Information:

  • All Utilities Installed Underground
  • Gated Community
  • All Vendors for HOA Community Maintenance are Secured – Estimated Monthly HOA Fee of approximately $1300/Property
  • Entire Subdivision is 2.36 Acres
  • Current Total Annual Real Estate Taxes are $16,200

Properties will be offered at Auction in Two Bidding Combinations/Offerings:

  • Offering A (4 of the 5 Properties): 2 Partially Complete Homes & 2 Vacant Lots (Community Lot #’s 2-5)

$1,700,000 Opening Bid

  • Offering B (All 5 Properties): Offering A Plus the 90% Finished Home (Community Lots #’s 1-5)

$3,700,000 Opening Bid

Terms & Conditions of Sale: Property will be sold free and clear of all liens, claims & encumbrances. In order to register to bid, all prospective bidders must present a cashier’s check in an amount of $170,000 to bid on Offering A or $370,000 to bid on Offering B (by qualifying to bid on Offering B you may bid on Offering A without posting an additional deposit). All checks must be made payable to “Maltz Auctions, Inc.”. Closing must occur within 45 days after the auction. Successful Bidder shall be granted a 30-day extension to close if he/she posts an additional non-refundable 10% deposit. Please download the complete Terms and Conditions of Sale. Subject to Sale Prior to Auction as Pre-Auction Offers will be Considered – Call Richard Maltz at 516-349-7022 x 202 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 Successful Bidder.

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.

These properties are just a selection of many sites – including premiere and commercial, distressed and non-distressed real estate – auctioned by Maltz Auctions. In addition to real estate, Maltz Auctions specializes in personal and intellectual property auctions.

“We pride ourselves in our ability to help owners who seek to establish liquidity from illiquid assets,” said David Maltz, the company’s CEO.

To learn more about Maltz Auctions, including its 45+ currently scheduled auctions, visit MaltzAuctions.com or call 516.349.7022.

About Maltz Auctions

Maltz Auctions is a premier, full-service auction company specializing in creating liquidity through the auction method of marketing. Now a $100+ million company with an impeccable reputation for professionalism, integrity and success, Maltz Auctions has conducted thousands of auctions and generated over $2 billion in sales on behalf of such clients as the U.S. Bankruptcy Courts and financial institutions throughout the country, the U.S. Department of Justice, Internal Revenue Service, N.Y. State Department of Taxation & Finance, Court Appointed Receivers, Estate Executors and Public Administrators, as well as law firms, private individuals and corporations, nationwide. The principals are court approved auctioneers, real estate brokers and receivers. The 35-year-old firm is nationally recognized as a trusted name in excellence and achievement. www.MaltzAuctions.com