March 16, 2022 at 11:00 am
105-02/04/06/08 101st Avenue,
Ozone Park, Queens, NY 11416
United States Bankruptcy Court Eastern District of New York – In Re: JS 105ST LLC, – Case No. 20-73182-REG
Offering Summary:
105-02, 105-04, 105-06, & 105-08 101st Avenue, Ozone Park, NY 11416
Please CLick Here for Information on The Upcoming Auction
of the 6-Building Queens Portfolio
Inspections/Viewings: Wednesday, March 9th, By Appointment Only. masks are Required Regardless of Vaccination Status. Access May Be Limited.
Bidder Qualification Deliverables: A cashier’s check in the amount of $350,000 made payable to “Kenneth Kirschenbaum, Esq. Chapter 7 Trustee”, and signed Terms & Conditions of Sale must be delivered to Maltz Auctions, 39 Windsor Place, Central Islip, NY 11722 before the Bidder Qualification Deadline.
Bidder Qualification Deadline: Tuesday, March 15, 2022 before 4:00 pm.
Auction Date & Time: Wednesday, March 16, 2022, at 11:00 am. Only Qualified Bidders as defined in Terms & Conditions of Sale are qualified to participate.
Auction Location: Virtual Auction – Credentials will be provided upon bidder qualification. Please call Richard Maltz at 516-349-7022 x 202 with questions.
Terms & Conditions of Sale: Terms & Conditions of Sale: The Successful Bidder shall be obligated to tender an amount to Trustee at closing sufficient to cure and pay any and all pre-Petition and post-Petition amounts due and owing to the City of New York, including: (1) taxes or charges due and owing pursuant to the New York City Administrative Code; and (2) any liens arising therefrom, including, but not limited to, any liens (but specifically excluding trust fund taxes) sold to third parties, which amount is not included in the Successful Bid. For sake of clarity, at closing Successful Bidder shall be obligated to tender to Trustee both the Purchase Price and an amount sufficient to pay any and all pre-Petition and post-Petition amounts due and owing to the City of New York, including: (1) taxes or charges due and owing pursuant to the New York City Administrative Code; and (2) any liens arising therefrom, including, but not limited to, any liens (but specifically excluding trust fund taxes) sold to third parties. In order to register to bid, all prospective bidders must preregister pursuant to the Terms & Conditions of Sale. Within 48 hours following the auction, Successful Bidder must post a deposit in the total amount of 15% of the high bid. Please download the complete Terms & Conditions of Sale.
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.
Additional Information Below
105-02 101st Avenue
105-04 101st Avenue
105-06 101st Avenue
105-08 101st Avenue
You must be logged in to view Documents.
You must be logged in to send an Auction Inquiry.
Kenneth Kirschenbaum, Esq., Chapter 7 Trustee
Kirschenbaum & Kirschenbaum, Attorneys for the Chapter 7 Trustee
Richard B. Maltz, Licensed Real Estate Broker
Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
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.
