144,000 SQ FT Building
Bankruptcy Auction
Auction
July 17, 2019 at 2:00 pm
Property Location
759 Palmer Road
Yonkers, NY 10708
Auction Location
NY LaGuardia Airport Marriott Hotel
102-05 Ditmars Boulevard
East Elmhurst, NY 11369
Photo Gallery
Details
Bankruptcy Auction – United States Bankruptcy Court Southern District of New York
In Re: EMC BRONXVILLE METROPOLITAN LLC, – Case # 18-22963 (RDD)
144,000+ Sq Ft Building
Luxury Condo Conversion (70% Complete)
Details:
- 759 Palmer Road, Yonkers, Westchester County, NY 10708
- “Bronkers” Neighborhood, Near the Bronxville Train & Retail District
- Impressive Three Story Brick Building – Former Hall of Records for Metropolitan Life Insurance Company
- Mid-Conversion to Luxury Residential Units – Appx 70% Complete
- 35 Units Ranging from 1,776 – 4,399 Sq Ft
- Planned Amenities: Two Level Indoor Parking Garage, Indoor Pool, Rooftop Lounge Area, Movie Theater, Fitness Center, Concierge & More
- Less Than One Mile to Bronxville Train Station (28 Minute Ride to Grand Central Station)
- Immediate Local Highway Access to Sprain Brook Parkway, New York State Thruway, Bronx River Parkway, Saw Mill River Parkway & Cross County Parkway
- Additional Information:
- Gross Building Area: 144,258 Sq Ft
- Net Rentable Area: 105,346 Sq Ft
- Gross Site Area: 1.01 Acres
- Originally Built 1906 & 1927
- Renovation Performed 2013-2018 (Current State)
- Zoning: MG (Residential – Low Density)
- Property Type: Multi-Family (Condominium Lofts)
- Flood Zone X
- Section: 5 Block: 5638; Lot: 48
- Annual Real Estate Taxes: $133,765
- $12,300,000 Minimum Bid
The Trustee, through his brokers, has received and accepted a $12,000,000 bid, subject to higher bids at the auction, with the next bid to be in the minimum amount of $12,300,000.
Viewings: Available by Appointment on Thursday, June 27th from 10:30 am – 12:30 pm; Monday, July 1st from 9:30 am – 11:30 am, & Tuesday, July 9th from 10:30am – 12:30pm. Please Contact David Constantino at 516.349.7022 x 205 to Schedule.
Overview of Sales Process: This is a two-step bidding process. The first step is the submission of binding, sealed bids that are due Friday, July 12, 2019. The Qualified Bidders will be invited to bid at the live auction on Wednesday, July 17, 2019 at 2:00 p.m. Please Note: If two equivalent bids are received, the best bidder will be identified as the first bid received.
Sealed Bid/Bidder Qualification Deadline: Friday, July 12, 2019 by 5:00 pm. Required Bid Documents (Pursuant to Bidding Procedures and Terms & Conditions of Sale) and an official cashier’s check in the amount of $1,000,000 must be included for consideration. See Bidding Procedures and Terms & Conditions of Sale for details or call David Constantino (x205) or Richard Maltz (x202) for additional information.
Sealed Bid Delivery Location: Klestadt Winters Jureller Southard & Stevens, LLP, 200 West 41st Street, 17th Floor, New York, NY 10036, Attn: Sean Southard..
Auction Date & Time: Wednesday, July 17, 2019 at 2:00 pm (Registration commences at 1:00 pm). Only Qualified Bidders as defined in the Bidding Procedures and Terms & Conditions of Sale that have submitted Qualified Bids and provide deposits are eligible to participate.
Auction Location: New York LaGuardia Airport Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369.
Have Questions? Get In Touch
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Fred Stevens, Chapter 11 Trustee
Klestadt Winters Jureller Southard & Stevens, LLP, Attorneys for the Chapter 11 Trustee
Richard B. Maltz, Licensed Real Estate Broker