David R. Maltz & Co., Inc. Auctioneers recently sold at Public Auction the property located at 225 Muttontown-Eastwoods Road, Muttontown, NY, better known as The Woodcrest Club.

Maltz implemented a highly effective marketing campaign resulting in property inquiries from five continents from in excess of 600 potential bidders.  Prior to the auction, a $14 million dollar stalking horse bid was negotiated with a qualified bidder.  The next acceptable bid was set at a minimum of $14,520,000. The auction was held on May 6, 2010 with nine registered bidders who each posted a $1 million deposit in order to participate in the bidding. One participant submitted an opening bid of $15.5 million which preceded highly competitive bidding among the other registered bidders. The final bid was $19 million. Pursuant to the Terms and Conditions of Sale the successful bidder closed one month after the auction.

The 107+ acre private golf club had filed for Chapter 11 bankruptcy protection in late 2009. The bankruptcy filing was a result of the economic climate adversely affecting the club’s membership roll.

All parties involved in the Public Auction of this property were very pleased with the results as the $19 million selling price far exceeded expectations from all parties handling the disposition.   With only 45 days to market this unique, one of a kind property, David R. Maltz & Co., Inc. yet again showed why they are referred to by many as the premier Real Estate Auction firm in the Northeast.

About David R. Maltz & Co., Inc.

David R. Maltz & Co., Inc, is the premier full service auction company specializing in the timely sale of real estate in a professional manner. Since inception more than 30 years ago, they have built a $100+ million a year corporation with an impeccable reputation for professionalism, honesty, integrity and success.  The firm has conducted thousands of auctions on behalf of such clients as the United States Bankruptcy Courts and Financial Institutions throughout the United States, the United States Department of Justice, the Internal Revenue Service, the United States Government Small Business Administration, law firms, private individuals and corporations nationwide. David R. Maltz & Co., Inc. is nationally recognized as a name in excellence and achievement.

Individuals seeking additional information about their auction services may contact a professional team member at 516.349.7022, or visit their corporate website at www.MaltzAuctions.com.