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Details

Lender Approved Auction

Renowned Waterfront Resort Complex – 80% of Commercial District in Fire Island Pines

Sold with Businesses (Hotel, Restaurants, Nightclubs & Retail)

Details:

  • Fire Island Boulevard & Atlantic Walk, Fire Island Pines, NY 11782
  • Incredibly Rare Opportunity to Acquire Multiple Commercial/Residential Properties & Multiple Businesses Ideally Located in the Heart of Fire Island Pines
  • Only 90 Minutes from New York City
  • This Offering Consists of 80% of the Commercial District in Fire Island Pines
  • 800,000+ Annual Visitors Arrive at the Foot of these Properties/Businesses
  • Assemblage Stretches 320′ Along the Harbor/Primary Pedestrian Walkway to the Ferry & Beach
  • Fire Island Pines is Home to Some of the Most Expensive Real Estate on Fire Island and has Evolved into One of the Best-Known, Wealthiest, Upscale Gay Communities in the World.
  • Fire Island Pines was Least Affected by Hurricane Sandy (vs surrounding communities) with No Injuries and No Homes Destroyed (This Property is on Harbor Side Offering Enhanced Protection)
  • Sold in Bulk Only
  • Offering A (“Botel Hotel” & “Blue Whale Restaurant”):
  • 49-56 Picketty Ruff Walk (Located on Fire Island Boulevard)
  • Operating Business Included in the Sale are Botel Hotel, Souvenir Shop and Blue Whale Restaurant
  • Botel
  •    Currently Structured as 21 Rooms, Hotel Office, 2 Retail Spaces & 4 Storage Rooms – Approved Plans for 30 Rooms
  •    Only Commercially Zoned Hotel in the Pines
  •    Incredible Upside Potential on Renovation & Conversion to Boutique Hotel
  •      Ground Level:
  •         Hotel Office & 2 Additional Retail Spaces (Possible to Subdivide for 1 Additional Retail Space)
  •          4 Guest Rooms w/ Private Bathrooms
  •          4 Storage Rooms
  •       Second Floor:
  •          10 Guest Rooms
  •           6 Full Bathrooms
  •              8 Guest Rooms (2 Rooms Share 1 Bath)
  •              2 Guest Rooms w/ Private Bath
  •       Third Floor:
  •           7 Guest Rooms
  •         6 Bathrooms
  •               2 Guest Rooms (Sharing 1 Bathroom)
  •              4 Guest Rooms w/ Private Bath
  •              1 Penthouse Suite (1 BR, 1 BA & Living Room)
  • Blue Whale Restaurant:
  •    160+ Seats – Largest Restaurant in the Pines
  •       Indoor and Outdoor Bar Space
  •      State of the Art Audio System
  •      Full Kitchen
  •      Walk-In Freezer Box
  •      Storage Sheds
  •       Serves Breakfast, Lunch & Dinner
    (Only 3 Meal Restaurant in the Pines)
  • Additional Offering Information:
  •    Land Area: 16,553 Sq Ft
  •    Block: 2   Lot: 18
  •    Annual Real Estate Taxes: $41,131.29 (Appx.)
  •    Interest Being Sold: Fee Simple Interest
    (Selling Real Property)
  • Offering B (“The Retail Strip”, Featuring “Pines Pool & Bar”):
  • 41-45 Pickety Ruff Walk
  • Operating Business Included in the Sale are Pines Pool & Bar, The Rack Gym and Cultured Elephant Cafe
  • Pines Pool & Bar
  •     Storage Rooms
  •     In ground Pool
  •     (2) Stages
  •     Fully Functional Outdoor Bar w/ Refrigeration
  • The Cultured Elephant (f/k/a “Canteen”)
  •     (2) Half Baths
  •     Full Kitchen
  •     Coffee Bar 
  •      Full Indoor & Outdoor Bar
  • The Rack Gym
  •     Outdoor Gym Space w/ Equipment
  • Beachscapes Floral Shop
  •       Half Bath
  •      Lease Term is Through 2018
  •      2015 Annual Rent of $26,000 with $1,000 Increase Per Year Until End of Term
  • Contractor/Plumber’s Office
  •     Month to Month Tenant
  •     Half Bath
  • Vacant Retail Store
  •     Half Bath
  •     Retail Floor
  •     Storage Closet
  • Additional Offering Information:
  •    Land Area: 14,810 Sq Ft
  •    Block: 2   Lot: 20.1
  •    Annual Real Estate Taxes: $13,710.46 (Appx)
  •    Interest Being Sold: Leasehold Interest (Ground Lease)
  •    Lease Term is Through 2023. At End of Term Lessor may have Option to Extend Ground Lease at Mutually Agreeable Rent at Appraised Value
  • Offering C (“The Pavilion”):
  • 37 Fire Island Boulevard
  • Operating Business Included in the Sale are Pavilion Night Club & The Harbor Club (a/k/a The Welcome Bar)
  • Climate Controlled Building
  • 200 Ton Cooling System
  • 4 Electric Meters (w/ 1 Additional Space)
  • Handicapped Accessible
  • Men’s/Women’s Bathroom & Handicapped Bathroom Located on 1st Floor
  • Pavilion Night Club
  •    One of the Most Famous Disco’s in the World
  •   State of the Art Audio/Video Systems
  •    Rebuilt in 2012
  •    Features a 110′ L x 20′ W Deck w/ Bar Service Overlooking
    the Harbor (Known as the High Tea Deck)
  • Harbor Club (a/k/a The Welcome Bar):
  •    Frequently a Meeting Place for all Pine’s Visitors
  •   Interior & Exterior Bar Space
  • Retail Spaces:
  •    Individually Metered & Climate Controlled
  • Suite A – Real Estate Office
  •   Lease Term is Through December 31, 2017 w/ 1- 5 Year
    Option
  •   Annual Rent $50,500 w/ Annual CPI Escalations
  • Suite B – Art Gallery
  •    Lease Term is Through December 31, 2017 w/ 1- 5 Year
    Option
  •    Annual Rent $35,000 w/ Annual CPI Escalations
  • Suite C – Vacant Space 
  • Additional Offering Information:
  •    Land Area: 3,467 Sq Ft
  •    Block: 2   Lot: 21
  •    Annual Real Estate Taxes: $41,615.14 (Appx)
  •    Interest Being Sold: Fee Simple Interest
    (Selling Real Property)
  • Offering D (“Chef’s House”):
  •   28 Fire Island Boulevard
  •   Single Family Home Located Directly Across from the
    Pavilion
  •   3 Bedrooms & 1 Baths (Plans Previously Approved for
    Expansion & Renovation)
  •   New Septic System with Significant Excess Capacity
  •   Storage Below Home
  • Additional Offering Information:
  •    Land Area: 6,098 Sq Ft
  •    Block: 7   Lot: 26
  •    Annual Real Estate Taxes: $4,516.37 (Appx)
  •    Interest Being Sold: Fee Simple Interest
    (Selling Real Property)
  • Offering E (“Staff House”):
  •   16 Atlantic Walk
  •   Multi-Tenant Building
  •   16 Bedrooms & 8 Bathrooms
  •   Small Kitchen
  •   Wrap-Around Deck
  •   Built in 2006
  •   Central Air Conditioning
  •   Heated
  •   Potential For 2nd Floor Addition
  •  Additional Offering Information:
  •    Land Area: 9,148 Sq Ft
  •    Block: 7   Lot: 22
  •    Annual Real Estate Taxes: $8,468.23 (Appx)
  •    Interest Being Sold: Fee Simple Interest
    (Selling Real Property)
  • Assemblage Overview:
  • 320′ Water Frontage
  • With an Average Slip Size of 35′ There Would be Room for 9 Slips (Presently 4 Slips are Leased) w/ Electric & Water
  • 32 Terminal P.O.S. System w/ Licenses
  • Favorable Lender Financing Available – Call for Details!
  • Originally Listed at $24,925,000
  • Last Listed at $19,500,000
  • $8,500,000 Suggested Opening Bid

Inspections/Viewings:  Available by Appointment.

Auction Date & Time:  Thursday, January 22nd at 1:00 pm.  Registration begins at 12:00 noon.

Auction Location:  The Office of the Auctioneer, 39 Windsor Place, Central Islip, NY 11722.  Absentee bidding available with pre-registration at least 72 hours prior to auction.  Attendance limited to registered bidders only.

Terms & Conditions of Sale: Property will be sold free & 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 $1,000,000 made payable to “Maltz Auctions, Inc.”.  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 five percent (5%) 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 one percent (1%) 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.

Have Questions? Get In Touch

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SilvermanAcampora, LLP, Attorneys for the Mortgagor
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

These Assets are being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the Assets 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 and/or Buyer’s Broker to determine the accuracy of all components of the sale and Assets.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Assets, including without limitation, environmental and physical condition of the Assets.  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.