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4 Building Portfolio
Bankruptcy Auction

4 buildings for sale by maltz auctions
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Auction

January 26, 2022 at 11:00 am

Registration Deadline

January 25, 2022 at 4:00 pm
2022-01-26 11:00AM

Property Location

105-02/04/06/08 101st Avenue,
Ozone Park, Queens, NY 11416

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Details

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

  • Block: 9423 Lot: 1
  • 12 Residential Units
  • 4 Commercial Units
  • 15,200 Gross Sq Ft
  • 75 Ft Frontage on 101st Avenue
  • 100 Ft Frontage on 105th Street
  • Year Built: 2008
  • Primary Zoning: R6B
  • 4 Blocks to MTA Subway 104thst/Oxford Station (A Line)
  • 1.4 Miles to Resorts World Casino NYC
  • 2.0 Miles to Jamaica Train Station/Travel Hub (LIRR, MTA Subway, MTA Bus, Air Train)
  • 4.3 miles to JFK International Airport
  • Current Annual Rent Roll: $321,588
  • Projected Annual Rent Roll: $417,588
  • Annual Real Estate Taxes: $91,524.12

Inspections/Viewings: TBA.

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, January 25, 2022 before 4:00 pm.

Auction Date & Time: Wednesday, January 26, 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:  Property will be sold free and clear of all monetary liens. 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

  • Block: 9423 Lot: 1
  • 4 Story Semi-Attached Mixed-Use Building
  • 3 Residential Units & 1 Commercial Unit
  • 3 – 3 Bedroom, 2 Bathroom Units with Balcony
  • Residential Sq Ft: Appx. 2,375
  • Commercial Sq Ft: Appx. 1,425
  • 2nd Floor: $1,957 per Month: Lease Expires 12/31/21
  • 3rd Floor: $1,957 per Month: Lease Expires 12/31/21
  • 4th Floor: $1,957 per Month: Lease Expires 12/31/21
  • Commercial Terms: $3,193 per Month: Lease Expires 5/31/21
  • Fully Occupied Building
  • Full Basement
  • R6-B Zoning District with C2-3 Commercial Overlay
  • Year Built: 2008
  • Units Individually Metered for Gas and Electric
  • Separate Furnace and Hot Water Heater for Each Unit
  • Current Annual Rent Roll: $108,768

105-04 101st Avenue

  • Block: 9423 Lot: 1
  • 4 Story Attached Mixed-Use Building
  • 3 Residential Units & 1 Commercial Unit
  • Residential Sq Ft: Appx. 2,375
  • Commercial Sq Ft: Appx. 1,425
  • 3 – 3 Bedroom, 2 Bathroom Units with Balcony
  • 2nd Floor: $2,008 per Month: Month to Month
  • 3rd Floor: $1,850 per Month: Month to Month
  • 4th Floor: Vacant
  • Commercial Terms: $2,800 per Month: No Lease
  • 75% Occupied Building
  • Full Basement
  • R6-B Zoning District with C2-3 Commercial Overlay
  • Year Built: 2008
  • Units Individually Metered for Gas and Electric
  • Separate Furnace and Hot Water Heater for Each Unit
  • Current Annual Rent Roll: $79,896
  • Projected Annual Rent Roll: $103,896

105-06 101st Avenue

  • Block: 9423 Lot: 1
  • 4 Story Attached Mixed-Use Building
  • 3 Residential Units & 1 Commercial Unit
  • 3 – 3 Bedroom, 2 Bathroom Units with Balcony
  • Residential Sq Ft: Appx. 2,375
  • Commercial Sq Ft: Appx. 1,425
  • 2nd Floor: $1,957 per Month: Lease Expires 12/31/21
  • 3rd Floor: Vacant
  • 4th Floor: Vacant
  • Commercial Terms: $2,800 per Month: No Lease
  • 50% Occupied Building
  • Full Basement
  • R6-B Zoning District with C2-3 Commercial Overlay
  • Year Built: 2008
  • Units Individually Metered for Gas and Electric
  • Separate Furnace and Hot Water Heater for Each Unit
  • Current Annual Rent Roll: $57,084
  • Projected Annual Rent Roll: $105,084

105-08 101st Avenue

  • Block: 9423 Lot: 1
  • 4 Story Semi-Attached Mixed-Use Building
  • 3 Residential Units & 1 Commercial Unit
  • 3 – 3 Bedroom, 2 Bathroom Units with Balcony
  • Residential Sq Ft: Appx. 2,375
  • Commercial Sq Ft: Appx. 1,425
  • 2nd Floor: $1,957 per Month: Lease Expires 12/31/21
  • 3rd Floor: $2,163 per Month: Lease Expires 12/31/21
  • 4th Floor: Vacant
  • Commercial Terms: $2,200 per Month: No Lease
  • 75% Occupied Building
  • Full Basement
  • R6-B Zoning District with C2-3 Commercial Overlay
  • Year Built: 2008
  • Units Individually Metered for Gas and Electric
  • Separate Furnace and Hot Water Heater for Each Unit
  • Current Annual Rent Roll: $75,840
  • Projected Annual Rent Roll: $99,840
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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 DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944

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.