2,400 SQ FT Mixed-Use Building
February 9, 2018 at 11:00 am
107-50 Sutphin Boulevard
Jamaica, NY 11435
Sheraton LaGuardia East
135-20 39th Avenue
Flushing, NY 11354
Bankruptcy Auction – United States Bankruptcy Court Eastern District of New York
In Re: Deonarine Parasram D/B/A Vandi Sales D/B/A Parasram Store – Case # 16-42657-cec
2,400+ Sq Ft Mixed-Use Building
Great Exposure on Sutphin Boulevard
- 107-50 Sutphin Boulevard, Jamaica, NY 11435
- 2,442 Sq Ft Attached Brick Building (20′ x 62′)
- 2,080 Sq Ft Lot (20′ x 104′)
- 1 Commercial & 2 Residential Units
- Full & Finished Basement
- Fully Occupied – All Tenants are Month-to-Month
- Commercial Unit:
- Currently Utilized as a Church
- Tenant Pays $1,900/Month
- Residential Units:
- 2 Bedroom Apartment
- Tenant Pays $1,500/Month
- 1 Bedroom Apartment
- Tenant Pays $900/Month
- Additional Information:
- Block: 11945 Lot: 61
- FAR: 2
- Maximum Allowable Floor Area: 4,160 Sq Ft
- Unused FAR: 1,718
- Zoning: R5D with C2-4 Overlay
- .5 Block from the Q6, Q40 & Q60 Bus Stops
- 1.5 Blocks from St. Josephs Catholic Church
- 3.5 Blocks from Masjid Al Abbasi
- 3.5 Miles from JFK Airport
- Fuel: Gas
- Heat: Steam
- Annual Real Estate Taxes: $3,672
- Sold Subject to Occupancies, will NOT be Delivered Vacant
- $290,000 Minimum Bid
Inspections/Viewings: Monday, February 5th from 1:00 pm – 3:00 pm.
Auction Date & Time: Friday, February 9th, 2018 at 11:00 am. Registration begins at 9:30 am.
Auction Location: (NEW VENUE) Sheraton LaGuardia East Hotel, 7th Floor, 135-20 39th Avenue, Flushing, NY 11354.
Terms & Conditions of Sale/Sales Procedures: The Property will be sold “AS-IS” and free & clear of all monetary liens. In order to register to bid, all prospective bidders must present a cashier’s check in the amount of $29,000 made payable to “Shafferman & Feldman LLP Attorney Escrow IOLA Account.” Please download the complete Sales Procedures.
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.
Buyer 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.
Shafferman & Feldman LLP, Attorneys for the Plan Proponent
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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. 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.