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11,000+ Sq Ft Building
Immediate Sale Directed

issm building (shaded white) for sale at maltz auctions in new york
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Online Bidding

Starts:
December 14, 2021 at 11:00 am

Ends:
December 16, 2021 at 11:00 am

Property Location

695 East 132nd Street
Bronx, NY 10454

Bid

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Details

Immediate Sale Directed

11,000+ Sq Ft Commercial Building

Highly Visible from RFK Triborough Bridge

$187,000+ Rent Roll ($235,000 Projected Rent Roll)

  • 695 East 132nd Street, Bronx, NY 10454
  • 1st Floor:
  • 2,500 Sq Ft (Gross Interior Space) With 1,250 Sq Ft Unfinished Garage
  • Space #1: 1,500 Sq Ft Office & 1,250 Sq Ft Unfinished Garage
  • Appx. 450 Sq Ft Office Space Leased to Macombs Transportation Inc
  • Original Lease Term: 8/25/21 – 8/31/26 (Current Term)
  • Annual Rent: $24,000
  • (1) 5-Year Option Terms: 9/1/26 – 8/31/31
  • Office Space
  • Space #2 (Vacant) 1,150 Sq Ft Office & 1,250 Sq Ft Unfinished Garage with Secure Parking for 5 Vehicles
  • Projected Annual Rent: $48,000
  • Heated Garage w/ Overhead Door to Street
  • Office Space
  • 2 Half Baths (Shared with Space #1)
  • 2nd Floor: (Currently Occupied by ISSM Protective Services)
  • 3,440 Sq Ft
  • Original Lease Term: 9/15/16 – 9/31/21
  • Annual Rent: $75,852
  • (1) 5-Year Option Term (Current): 10/1/21 – 12/31/26
  • 8 Offices
  • Classroom
  • Reception Area
  • Conference Room
  • Access to Rooftop
  • 2 Half Baths
  • Server Room
  • Small Outdoor Patio
  • 3rd Floor & 4th Floor: (Currently Occupied by CFS Steel)
  • 5,000 Sq Ft
  • 3rd Floor (2,500 Sq FT)
  • Original Lease Term: 1/1/18 – 12/31/22 (Current Term)
  • Annual Rent: $55,001.88 (No Annual Escalation)
  • (1) 5-Year Option Term: 1/1/23 – 12/31/27
  • 6 Offices
  • Reception/Office Are with Cubicles
  • Server/File Room
  • Break Room w/ Kitchenette
  • 2 Half Baths
  • 4th Floor (2,500 Sq FT)
  • Original Lease Term: 1/1/18 – 12/31/18
  • (1) Current 4-Year Option Term: 1/1/19 – 12/31/22 (Current Term)
  • Annual Rent: $32,600
  • (1) 5-Year Option Term: 1/1/23 – 12/31/27
  • 8 Offices
  • Conference Room with Separate Copy room
  • Break Room w/ Kitchenette
  • 2 Half Baths
  • Additional Information:
  • Block: 2561 Lot: 80
  • Lot Size: 4,125 Sq Ft (.095 Acres)
  • Lot Dimensions: 37’5″ Wide x 110′ Deep
  • Zoning: M1-2
  • Recent Upgrades include:
  •     New water and Sewer Line to Street
  •     Updated Elevator Computer
  •     Updated HVAC
  • Elevator Servicing All 4 Floors (1,400 lbs)
  • 400 Sq Ft Space Allocated to Cell Tower Equipment on the Roof
  • 7 Electrical Meters
  •     2 Meters for 1st Floor
  •     1 Meter for 2nd Floor
  •     1 Meter for 3rd Floor
  •     1 Meter for 4th Floor
  •     1 Public Lighting Panel (PLP) Meter
  •     1 Meter for Cell Tower
  • 2 Gas Meters
  • 1 Water Meter
  • Each Unit Individually Climate Controlled
  • Elevator Room Located on Rooftop
  • HVAC on Rooftop
  • Fuel: Gas
  • $21,000 Cellular Income Sold Through 2021 with (2) 5-Year Extensions with 12 % Term increases
    ($23,520 Through ’26 and $26,342 from ’26’ – ’31’)

  • Current Annual Real Estate Taxes: $2,165.56 (ICIP Ind/Special Exemption)
  • $2,100,000 Opening Bid

Viewings: TBA.

Pre-Registration Required to Bid:  You must send in signed Terms and Conditions of Sale, signed Online Bidding Form and a $210,000 deposit to be approved for bidding.  All documents and funds must be received at least 24 hours prior to the scheduled end time of the auction, or you may not be approved to bid prior to the conclusion of the auction.

Auction Date: Online-Only bidding will open Tuesday, December 14th at 1:00 pm and is scheduled to close on Thursday, December 16th at 1:00 pm.  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.  Once no further bidding activity occurs, the sale closes when the time runs out.

Terms & Conditions of Sale: Sold free and clear of all monetary liens.  In order to register to bid, all prospective bidders must deliver a cashier’s check in the amount of $210,000 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 twenty-four hours prior to the scheduled close of bidding.

Buyer’s Premium: A Six (6%) percent 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.

Broker Participation: A two (2%) percent 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 A. Constantino, Auctioneer DCA# 1424944
Richard B. Maltz, Licensed Real Estate Broker

The Real 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 Real 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 Real 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 Real Property in making their bids. Neither Maltz, the Seller nor any of their collective representatives makes any representations or warrantees with respect to the permissible uses of the Real Property including, but not limited to, the zoning of the Real Property.  All Bidders acknowledge that they have conducted their own due diligence in connection with the Real Property and are not relying on any information provided by Maltz, the Seller, or their professionals.  The Real 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.