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Partnership Dissolution – Immediate Sale Directed via Public Auction

Prominent Corner Building – Redevelopment Opportunity

Approved Building Plans

1240 Broadway, Brooklyn, NY 11221

  • 4,400 Sq Ft Building Plus 2,200 Sq Ft Basement
  • Located on the Corner of Broadway and Greene Avenue
    • 160′ of Total Frontage on Broadway and Greene Avenue
    • 66′ Frontage on Broadway
    • 94′ Frontage on Greene Avenue
  • Building Currently Gutted the Outer walls
  • 2-Story Structure Plus Basement
  • 2,216 Sq Ft Lot (.05 Acres)
  • Approved Building Plans for Office Conversion (See Documents Section)

Location Information:

  • .15 Miles to MTA Kosciusko Street Subway Station (J-Train)
  • .17 Miles to MTA Gates Avenue Subway Station (J & Z Trains)
  • .45 Miles to MTA Central Avenue Subway Station (M-Train)
  • Located in Special Enhanced Commercial District (EC)
    • Abundant Ongoing/Complete Redevelopment Sites

Additional Information:

  • Borough: Brooklyn  Block: 1618  Lot: 30
  • Also Known As: 1240-1244 Broadway & 1035-1039 Greene Avenue
  • Primary Zoning: C4-4L
  • Building Class: I9
  • Units: 6 Non-Residential
  • Year Built: 1910
  • Year Altered: 2006
  • Annual Real Estate Tax: $41,225.68
  • $3,490,000 Minimum Bid
  • Sells Absolute, Regardless of Price, at or Above $3,490,000

Viewings: TBA.

Pre-Registration Required to Bid:  You must send in signed Terms and Conditions of Sale, signed Online Bidding Form, and a $349,000 deposit to be approved for bidding.  All documents and funds must be received by 4:00 pm the Day 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, October 20, 2026 at 11:00 am and is scheduled to close on Thursday, October 22. 2026 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.  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 Deliver a cashier’s check in the amount of $349,000 made payable to “Maltz Auctions, Inc.”, signed Terms & Conditions of Sale and signed Online Bidding Form to Maltz Auctions at 39 Windsor Place, Central Islip, NY 11722 by 4:00 pm the Day prior to the scheduled close of bidding.  Closing must occur within 45 days after the auction. However, the 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).  Please download the complete Terms and Conditions of Sale.  Subject to sale prior to auction as pre-auction offers will be considered.

Buyer’s Premium: A six percent (6%) 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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Documents

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Have Questions? Get In Touch

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

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. Artificial Intelligence (AI) technology may have been utilized in the collection of property data and/or the digital enhancement and decluttering of marketing photographs. Notwithstanding the potential use of such technology, no material physical characteristics or details of the property have been altered. All visual media provided herein constitutes a fair and substantially accurate representation of the property’s current physical state and condition.  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.