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3 Sponsor Co-Ops
Wind-Down Officer Directed Auction

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September 20, 2017 at 11:00 am

2017-09-20 11:00AM

Property Location

504 Merrick Road
Lynbrook, NY 11563

Auction Location

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

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Wind-Down Officer Directed Auction

3 Sponsor Co-ops in Elevator Building

Fully Occupied – Sold in Bulk


  • 504 Merrick Road, Lynbrook, NY 11563
  • Units: 1R, 2D & 2N
  • Sponsor Units – Board Approval Not Required
  • Rent Regulated Units
  • Walking Distance to the Long Island Railroad
  • All Units Believed to be 1 BR & 1 BA
  • 2N:
  •   Monthly Rent: $1,297.18
  •   Lease Expiration: 9/30/2019
  •   Monthly Maintenance: $871.64
  •   Monthly Parking: $75.00
  •   Number of Shares: 790
  • 2D
  •   Monthly Rent: $690.13 or $693.56
  •   Lease Expiration: 9/30/2018 or 9/30/2019
  •   Current Lease in Possession is Unsigned
  •   Monthly Maintenance: $772.34
  •   Monthly Parking: $75.00
  •   Number of Shares: 700
  • 1R
  •   Monthly Rent: $731.07
  •   Lease Expiration: 9/30/2019
  •   Monthly Maintenance: $871.64
  •   Number of Shares: 790

Inspections/Viewings: Access Unavailable.

Auction Date & Time:  Wednesday, September 20th at 11:00 am.  Registration begins at 9:30 am.

Auction Location:  NY LaGuardia Airport Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369. Remote bidding available with registration at least 5 business days prior to auction, please call for details.

Terms & Conditions of Sale: Sold “As-Is” in Bulk Only 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 $20,000 made payable to “Esther DuVal, as Wind Down Officer”.  Please download the complete Terms and Conditions of Sale.

Esther DuVal, Appointed Wind-Down Officer
Westerman Ball Ederer Miller Zucker & Sharfstein, LLP, Attorneys for the 
Wind-Down Officer

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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

These assets are being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the assets is made by the Seller, Auction Company or any of their Agents.  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 and/or Buyer’s Broker to determine the accuracy of all components of the sale and assets.    Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the assets, including without limitation, environmental and physical condition of the assets.  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.