Immediate Sale Ordered

(3) Non-Performing Mortgages

Senior Mortgages Secured by Real Property

Details:

• Individual Sale of Three Groups of First or First and Second Mortgages
• #1)
• 657 Quincy Street, Brooklyn, NY 11221
•    Borough: Brooklyn   Block: 1626   Lot: 78
•    Description: 3,025 Sq Ft Lot (30.25' x 100') in R6 Zone
•    Proposed Plans for (2) Two Family Homes
•    Selling First & Second Mortgage as a Single Lot Only
•    Unpaid Principal Balance: $560,000
•    Current Payoff Amount: $925,000
•    Minimum Bid: $10,000
• #2)
• 188 East 54th Street, Brooklyn, NY 11203
•    Borough: Brooklyn   Block: 4659   Lot: 25
•    Description: 2,000 Sq Ft Lot (20' x 100') in R6 Zone
•    Selling First & Second Mortgage as a Single Lot Only
•    Unpaid Principal Balance: $420,000
•    Current Payoff Amount: $735,000
•    Minimum Bid: $10,000
• #3)
• 227 A Rockaway Turnpike, Lawrence, NY
•    County: Nassau   Section: 40   Block: 34   Lot: 234
•    Description: 7,100 Sq Ft Lot
•    Selling First Mortgage
•    Unpaid Principal Balance: $650,000
•    Current Payoff Amount: $985,000
•    Minimum Bid: $10,000
• Detailed Information Available Upon Request...
  

Inspections/Viewings:  Access Unavailable.

Auction Date & Time:  Wednesday, June 23rd at 11:00 am.  Registration begins at 10:00 a.m. 

Auction Location:  Sheraton Four Points Hotel, 333 South Service Road, Plainview, NY 11803.

Terms & Conditions of Sale: Sold "As-Is" without representations or warranties.  In order to register to bid, all prospective bidders must present a certified check in the amount of $5,000 (for each loan), made payable to "David R. Maltz & Co., Inc.".  Closing must occur within 45 days after the auction.  Subject to sale prior to auction as pre-auction offers will be considered.  Please download the complete Terms and Conditions of Sale. 

Buyer's Premium:  A ten percent (10%) 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, Auctioneer DCA# 1240836
 Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022  Fax (516) 349-0105

These assets are being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either expressed or implied, concerning the property or loan is 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 to determine the accuracy of all measurements and specifications of the property.    Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property and loans, including without limitation, environmental and physical condition of the property and enforceability of the loan documents.  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.