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2-FAM/REDEVELOPMENT SITE
Bankruptcy Auction

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Auction Information

Auction

January 29, 2020 at 11:00 am

2020-01-29 11:00AM

Property Location

168 Patchen Avenue
Brooklyn, NY 11221

Auction Location

LaGuardia Airport Marriott Hotel
102-05 Ditmars Boulevard
East Elmhurst, NY 11369

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Details

Bankruptcy Auction – United States Bankruptcy Court Eastern District of New York

In Re: Florence F. Smith aka Florence Litchmore Smith dba Notary Public dba Florence Barton Aparments and Properties dba Integrity Enterprises dba FFLS Integrity Enterprises LLC dba Integrity Enterprises Number One LLC dba Florence Francella Smith dba Integrity Enterprises Barton LLC- Case # 19-40962-nhl

Redevelopment Opportunity – Two Family Home

8,000 Sq Ft Buildable – 40′ Wide Lot

Details:

  • 168-170 Patchen Avenue, Bedford-Stuyvesant, Brooklyn, NY 11221
  • Legal Two-Family Building Currently Structured with 5 Residential Units and 1 Commercial Space
  • 1,780 Sq Ft (Finished Sq Ft), 2.5-Story Building
  • Additional 712 Unfinished Sq Ft
  • 4,000 Sq Ft Oversized Lot (40′ x 100′)
  • Building Footprint: 600 Sq Ft (20′ x 30′)
  • Attached 200 Sq Ft Garage with Private Gated Driveway
  • 2 Blocks to MTA B26 Bus Line
  • 5 Blocks to MTA J, Z Subway Lines
  • First Floor: 1 Residential Unit & 1 Workshop/Commercial Space (Both Occupied by Debtor & will be Delivered Vacant at Closing)
  • Second Floor: 2 Residential Units
  • Third Floor: 2 Residential Units (1 Vacant)
  • Tenants Believed to be Month-to-Month
  • Additional Information:
  • Borough: Brooklyn   Block: 1657  Lot: 47
  • Zoning: R6B
  • Residential FAR: 2
  • FAR as Built: .45
  • Unused FAR: 6,200 Sq Ft
  • Allowed Usable Floor Area: 8,000 Sq Ft
  • Year Built: 1915
  • Annual Real Estate Taxes: $4,415
  • Additional Information Coming Soon
  • Currently Occupied and will Not be Delivered Fully Vacant at Closing

Viewings: Mondays, January 20 & 27, 2020 from 10:00 am – 12:00 noon.

Auction Date & Time: Wednesday, January 29, 2020 at 11:00 am.  Registration commences at 9:30 am.

Auction Location: NY LaGuardia Airport Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369.

Terms & Conditions of Sale/Bidding Procedures: 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 $100,000 made payable to “Alan Nisselson, Chapter 11 Trustee”.  Please download the complete Terms and Conditions of Sale.

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.

Have Questions? Get In Touch

Alan Nisselson, Chapter 11 Trustee
Windels Marx Lane & Mittendorf LLP, Attorneys for the Chapter 11 Trustee
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