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3,000+ Sq Ft Building
Bankruptcy Auction

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Online Bidding

November 14, 2022 at 11:00 am

November 16, 2022 at 11:00 am


November 9, 2022
from 11:00 am to 1:00 pm

November 14, 2022
from 11:00 am to 1:00 pm

2022-11-16 11:00AM

Property Location

689 Prospect Avenue
Bronx, NY 10455


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In RE: 689 PROSPECT AVENUE CORP., – Case No.: 22-11026 (MEW)

3,000+ Sq Ft Building

11 Residential Rooms and 1 Office

689 Prospect Avenue, Woodstock, The Bronx, NY 10455

  • 3,018 Sq Ft SRO Restricted Building
  • Three Story Building Currently Configured as an 11+ Room SRO
  • $71,000+ Current Annual Rent Roll (Click Here for Current Rent Roll)

Lower Level:

  • 1 Office with 2 Rooms
  • 2 Single Room Units (1 with Kitchenette)
  • 2 Shared Half Bathrooms
  • Storage Room (Utilized by Office Tenant)
  • Access to Rear Yard Area
  • Access From the Street and Inside of the building

First Floor:

  • 4 Single Room Units
  • 1 Shared Full Bathroom
  • Access to Rear Yard Area

Second Floor:

  • 5 Single Room Units
  • 1 Shared Full Bathroom
  • 1 Additional Room Currently utilized as Kitchenette


  • Unfinished Space
  • utilities
  • Storage

Area Information:

  • 3 Blocks to MTA Subway Prospect Ave Station (2 & 5 Lines)
  • 5 Blocks to MTA Subway Longwood Station (6 Line)
  • Quick access to Bruckner Expressway
  • Blocks to Westchester Avenue

Additional Information:

  • Block: 2675  Lot: 24
  • Land Use: Multi-Family Walk-Up Buildings
  • Lot Size: 1,821 Sq Ft
  • Building Class: C0 (Walk-up Apartments)
  • Primary Zoning: R6
  • Oil Heat (550 Gallon Tank in Basement)
  • 2 Electric Meters
  • Year Built: 1901
  • Annual Real Estate Taxes: $2,662.28
  • NYC Market Value as Assessed (’22-’23): $926,000
  • $350,000 Opening Bid

Viewing: Wednesday, November 9th and Monday, November 14th from 11:00am – 1:00pm.

Pre-Registration Required to Bid:  You must send in signed Terms & Conditions of Sale, signed Online Bidding Form, and a $35,000 deposit to be approved for bidding.

Auction Date: Online-Only Bidding will open Monday, November 14, 2022 at 11:00 AM and is scheduled to close on Wednesday, November 16, 2022 at 11:00 AM.  Visit RemoteBidding.MaltzAuctions.com or download the Maltz Auctions App on the Apple Store or Google Play.

Bidding Process: If a bid is placed with less than one minute remaining, the bidding period will be extended so one minute remains for competing bids to be entered.  If any further bidding occurs, the extension timer will reset to one minute.  Once no further bidding activity occurs, the sale closes when the time runs out.

Terms & Conditions of Sale: The Real Property will be sold free and clear of any and all monetary liens.  In order to register to bid, all prospective bidders must Deliver a cashier’s check in the amount of $35,000 made payable to “Kenneth P. Silverman, Esq., Chapter 7 Trustee”, signed Terms & Conditions of Sale, and signed Online Bidding Form to Maltz Auctions at 39 Windsor Place, Central Islip, NY 11722 before Tuesday, November 15, 2022 at 4:00 pm.  Please download the complete Terms & Conditions of Sale.

Buyer’s Premium: A five percent (5%) Buyer’s Premium will be added to the Successful Purchaser’s high bid to determine the contract price to be paid by the Successful Purchaser.

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Kenneth P. Silverman, Chapter 7 Trustee
Silverman Acampora LLP, Attorneys for the Chapter 7 Trustee
Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022 Fax (516) 349-0105

This Property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the Property is made by the Trustee, Attorney for the Trustee, 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 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.