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3,100+ SQ FT Multi-Fam Bldg
Bankruptcy Auction

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Auction Information


December 12, 2019 at 11:00 am

2019-12-12 11:00AM

Property Location

536 Willoughby Avenue
Brooklyn, NY 11206

Auction Location

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

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

In Re: Stephanie Sarria a/k/a Stephanie Santangelo a/k/a Stephanie Riddle – Case # 19-42830 (nhl)

3,100+ Sq Ft Multi-Family Building

Prime Bed-Stuy Location – Air Rights!


  • 536 Willoughby Avenue, Bedford-Stuyvesant, Brooklyn, NY 11206
  • 3,140 Sq Ft (Including Ground Level Apartment) + Unfinished Basement
  • 2,380 Sq Ft (Not Including Ground Level Apartment) + Unfinished Basement
  • Legal Three Family Building
  • Currently Structured with 6 Living Units
  • 2,000 Sq Ft Lot (20′ x 100′)
  • Building Dimensions: 20′ x 38′
  • Full & Unfinished Basement (Additional 760 Sq Ft)
  • 2.5 Blocks to Myrtle/Willoughby Avenue MTA Subway Station (G Line)
  • .5 Block to Tompkins/Willoughby Avenue MTA Bus Stop (B43 Line)
  • 1.5 Blocks to Nostrand/Willoughby Avenue MTA Bus Stop (B44 Line)
  • 2 Blocks to Dekalb/Marcy Avenue MTA Bus Stop (B38 Line)
  • All Occupants Signed Month-to-Month Tenancy Agreements and All were Terminated Earlier this Year.  Tenants are Currently Not Paying Rent.  Former Rent Info Referenced Below.
  • Former Monthly Rent Roll: $5,930
  • Ground Level:
  • 1 Bedroom
  • 1 Full Bath
  • Kitchen
  • Living Room
  • Backyard Access
  • $1,650 Per Month
  • 1st Floor:
  • 1 Bedroom
  • Full Bath
  • Kitchen
  • Living Room
  • $700 Per Month (Agreement with Current Owner to Maintain Grounds for Rent Reduction)
  • 2nd Floor:
  • (2) Studio Apartments with Living Area and Small Kitchen
  • Shared Full Bathroom
  • $880 (Front Unit) and $950 (Rear Unit)
  • 3rd Floor:
  • (2) Studio Apartments with Living Area and Small Kitchen
  • Shared Full Bathroom
  • $800 (Front Unit) and $950 (Rear Unit)
  • Full & Unfinished Basement:
  • Utilities and Storage
  • Street Access
  • Additional Information:
  • Borough: Brooklyn   Block: 1767  Lot: 15
  • Zoning: R6-B
  • Residential FAR: 2
  • Allowed Usable Floor Area: 4,000 Sq Ft
  • Fuel: Gas
  • Heat: Steam
  • Hot Water: Gas-Fired Hot Water Heater
  • 3 Gas Meters
  • 3 Electric Meters
  • Utilities Paid by Landlord
  • Single Thermostat Control
  • Year Built: 1910
  • Annual Real Estate Taxes: $4,234.48
  • Currently Occupied and will not be Delivered Vacant at Closing
  • $700,000 Suggested Opening Bid

Viewings: Tuesday, December 3rd and Monday, December 9th from 10:00 am – 12:00 noon. (Please Call to Confirm Access.)

Auction Date & Time: Thursday, December 12, 2019 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.

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 $80,000 made payable to “Penachio Malara Escrow Account”.   Please download the complete Terms 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.

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.

Penachio Malara LLP, Attorneys for the Chapter 11 Debtor

Have Questions? Get In Touch

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

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 Chapter 11 Debtor & Debtor in Possession, the Attorney for the Chapter 11 Debtor & Debtor in Possession nor any of their collective representatives makes any representations or warranties 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 Chapter 11 Debtor & Debtor in Possession, the Attorney for the Chapter 11 Debtor & Debtor in Possession, 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.