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7,600+ Sq Ft Renovated Bldg
Immediate Sale Directed

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Online Bidding

Starts:
July 27, 2021 at 11:00 am

Ends:
July 29, 2021 at 11:00 am
2021-07-29 11:00AM

Property Location

102-45 Jamaica Avenue
Richmond Hill, NY 11418

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Details

Immediate Sale Directed via Public Auction

7,600+ Sq Ft Mixed-Use Building - Recently Renovated

1 Commercial & 6 Residential Units

  • 102-45 Jamaica Avenue, Richmond Hill, Queens, NY 11418
  • $150,000+ Rent Roll
  • 8,000+/- Sq Ft 4-Story Walkup Building
  • Situated on a 3,088 Sq Ft Lot (26.23′ x 127.51′)
  • Building Footprint: 26′ x 80′
  • 6 Residential Units
  • 1 Commercial Unit
  • 1st Floor:
  • Commercial Space:
  •     1,716 Sq Ft
  •     Current Lease Expires March 31, 2022
  •     Annual Rent: $52,800
  •     Additional Rent: 25% of Annual Real Estate Tax and Water/Sewer
  • 2nd – 4th Floors:
  • 6 Residential Apartments:
  •     Each Apartment 1,000+/-Sq Ft (appx)
  • Area Information:
  • Across from MTA 104th Street Subway Station (J & Z Trains)
  • Jamaica Avenue/104th Street Bus Line Out Front of Building (Q56)
  • 2 Miles to Resorts World Casino Queens
  • 5 Miles to JFK International Airport
  • 2.1 Miles to Jamaica Transportation Hub (LIRR, MTA Bus & Subway Lines, JFK AirTrain, Taxis)
  • Additional Information:
  • Borough: Queens   Block: 9187   Lot: 38
  • Building Class: Primarily Five to Six Family with One Store or Office (S5)
  • Zoning: R6A, R4 with C2-4 Overlay
  • Year Built: 2007
  • Annual Real Estate Taxes: $10,689.48
  • Currently Occupied & Not Delivered Vacant at Closing
  • *There are discrepancies between actual building footprint and information found on public record.  Potential bidders should conduct their own independent due diligence.
  • $1,650,000 Opening Bid

ONLINE-ONLY BIDDING  – CLICK HERE FOR ONLINE BIDDING

Bidding is available by computer or download of the Maltz Auctions App on the App Store or Google play


Viewing: Please email [email protected] to arrange a tour.

Pre-Registration Required to Bid:  You must submit the signed Terms & Conditions of Sale, signed Online Bidding Form, and a $165,000 deposit by Wednesday, July 28, 2021 at 4:00 pm to be approved for bidding.  Acceptable forms of deposit are cashier’s check, postal money order, and wire transfer.

Auction Date: Online-Only Bidding will open Tuesday, July 27, 2021 at 11:00 am and is scheduled to close on Thursday, July 29, 2021 at 11:00 am.  Visit RemoteBidding.MaltzAuctions.com or download the Maltz Auctions App on the Apple Store or Google Play.

Bidding Process: If a bid is placed with less than one minute remaining, the bidding period will be extended so one minute remains for competing bids to be entered.  If any further bidding occurs, the extension timer will reset to one minute.  If/once no further bidding activity occurs, the sale closes when the time runs out.

Terms & Conditions of Sale: Property will be sold free and clear of all monetary liens.  In order to register to bid, all prospective bidders must present a cashier’s check in the amount of $165,000 made payable to “Maltz Auctions”, signed Terms & Conditions of Sale, and signed Online Bidding Form to Maltz Auctions at 39 Windsor Place, Central Islip, NY 11722 by Wednesday, July 28, 2021 at 4:00 pm.  Closing must occur within 45 days following the auction.  Successful Bidder shall be granted a single 30-day extension to close if he/she posts an additional non-refundable 10% deposit (subject to additional fees).  Subject to sale prior to auction as pre-auction offers will be considered.  Please download the Terms & Conditions of Sale for the complete terms and conditions of sale.

Buyer’s Premium: A seven percent (7%) 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.

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Richard B. Maltz, Auctioneer DCA# 1240836
David Constantino, Auctioneer DCA# 1424944
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022  Fax (516) 349-0105

The Property is being sold “AS IS” “WHERE IS”“WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature, and free and clear of any liens, claims, or encumbrances of whatever kind or nature, with such liens, if any, to attach to the proceeds of sale in such order and priority as they existed immediately prior to the Closing, and the sale of the Property is subject to, among other things (a) any state of facts that an accurate survey may show; (b) any covenants, restrictions and easements of record; (c) any state of facts a physical inspection may show; (d) any building or zoning ordinances or other applicable municipal regulations and violations thereof; and (e) environmental conditions. By delivering their respective Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Property, the state of title thereof and laws, rules and regulations applicable thereto, and will rely solely thereon and on their own independent investigations and inspections of the Property in making their bids. Neither Maltz, the seller, nor any of their collective representatives makes any representations or warranties with respect to the permissible uses of the Property including, but not limited to, the zoning of the Property.  All Bidders acknowledge that they have conducted their own due diligence in connection with the Property and are not relying on any information provided by Maltz, the seller or their professionals.  The Property will be sold subject to any and all violations or conditions requiring corrective action.  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 components of the sale and Property.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, 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.  Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.