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

In Re: Al Iman Plaza, Inc. – Case #17-12072 (MG)

25,000 Sq Ft Corner Retail Building – Prime Location

Multiple Major Redevelopment Sites on Block – 2 Tax Lots from McDonald’s


  • 2008 Westchester Avenue, Parkchester, Bronx, NY 10462
  • a/k/a 2000-2008 Westchester Avenue & 1272-1284 Pugsley Avenue
  • 25,000 Sq Ft Corner Building on the South East Corner of Westchester Avenue & Pugsley Avenue
  • 10 Commercial Storefronts
  • Tremendous Open Area with High Ceilings
  • Second Floor Parking Garage with Offices
  • 12,500 Sq Ft Lot (100′ x 125′)
  • Zoning: R6 with C2-2 Overlay
  • FAR as Built: 2
  • Residential FAR: 2.43
  • Facility FAR: 4.8
  • Easily Accessible from the Cross Bronx Expressway
  • 2 Blocks to the Parkchester Subway Station (MTA 6 Line)
  • Across from the Westchester Avenue/Pugsley Avenue Bus Stop
  • Borough: Bronx   Block: 3805   Lot: 1
  • Annual Real Estate Taxes: $181,053 (Without Abatements/Exemptions)
  • Currently Vacant & Delivered Vacant at Closing
  • $4,210,000 Minimum Bid

Inspection/Viewing: Wednesday, November 29th and Thursday, December 7th from 11:00 am – 1:00 pm.  PLEASE BRING A FLASHLIGHT – NO POWER)

Auction Date & Time: Tuesday, December 12, 2017 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 & clear of all monetary liens.  The Trustee has received and accepted a stalking horse bid with the next bid to be in the minimum amount of $4,210,000.  In order to register to bid, all prospective bidders must present a cashiers check in the amount of $432,000 made payable to “Salvatore LaMonica, as Chapter 7 Trustee”.  Please download the complete Bidding Procedures.

Buyer’s Premium: A five (5%) 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.

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Maltz Logo

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.