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5 Co-Op Units
Immediate Sale Directed

exterior of co-op units for sale at maltz auctions in new york
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June 23, 2015 at 11:00 am

2015-06-23 11:00AM

Property Location

2020 East 41st Street
Brooklyn, NY 11234

Auction Location

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

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Corporate Dissolution – Immediate Sale Directed via Public Auction

5 Co-Op Units (Sponsor Rights) in Elevator Building

Magnificent Tree Lined Street in Desirable Neighborhood

Available in Bulk or Individually


  • 2020 East 41st Street, Brooklyn, NY 11234
  • Units: 2D, 2G, 3F, 5G, 5J
  • Ideally Located in Marine Park at Intersection of Kings Highway and East 41st Street
  • Building Amenities Include Laundry Room & Live-in Super
  • 1 Decontrolled, 2 Rent Stabilized & 2 Rent Controlled Units
  • Free Market Unit:
  •   3F: 1,000 Sq Ft (Appx), 3 Bedrooms & 2 Baths
  •      Maintenance: $809.18/Month
  •      Rent: $2,000/Month – Lease Expired (Month-to-Month Tenant)
  •      # of Shares: 201
  • Rent Stabilized Units:
  •   5G: 750 Sq Ft (Appx), 2 Bedroom Potential
  •      Maintenance: $615.95/Month
  •      Rent: $639.39/Month – Lease Expires 1/31/2017
  •      # of Shares: 153
  •      Presently Configured as a Junior 4 (Two Sleeping Rooms)
  •   5J: 750 Sq Ft (Appx), 2 Bedroom Potential
  •      Maintenance: $615.95/Month
  •      Rent: $755.22/Month – Lease Expires 12/31/2016
  •      # of Shares: 153
  • Rent Controlled Units:
  •   2D: 750 Sq Ft (Appx), 2 Bedroom Potential
  •      Maintenance: $603.87/Month
  •      Rent: $405.05/Month – No Written Lease
  •      # of Shares: 150
  •   2G: 750 Sq Ft (Appx), 2 Bedroom Potential
  •      Maintenance: $603.87/Month
  •      Rent: $398.81/Month – No Written Lease
  •      # of Shares: 150
  • Additional Information:
  • Well Maintained Building
  • Borough: Brooklyn   Block: 7822   Lot: 45
  • Unit 4J (152 Shares) Sold 5/2013 for $1,286.18/Share = $195,500
  • Unit 6D (154 Shares) Sold 12/2012 for $192,660
  • Unit 3G (151 Shares) Sold 6/2009 for $210,000
  • Rent Controlled Unit Opening Bids: $25,000/Unit
  • Rent Stabilized Unit Opening Bids: $45,000/Unit
  • Free Market Unit Opening Bid: $130,000/Unit 

Inspections/Viewings:  Access Unavailable.

Auction Date & Time:  Tuesday, June 23rd at 11:00 am.  Registration begins at 10:00 am.

Auction Location:  New York LaGuardia Airport Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369.  Online & absentee bidding available with registration at least 48 hours prior to auction, please call for details.

Terms & Conditions of Sale:  Property will be sold free and clear of all liens, claims & encumbrances.  In order to register to bid, all prospective bidders must present a cashier’s check in an amount of $10,000 for each individual rent stabilized or rent controlled unit, $20,000 for the free market unit, or $60,000 for all units in bulk, made payable to “Maltz Auctions, Inc.”.  Closing must occur within 45 days after the auction. Successful Bidder shall be granted a 30-day extension to close if he/she posts an additional non-refundable 10% deposit.  Subject to sale prior to auction as pre-auction offers will be considered.  Please download the complete Terms and Conditions of Sale.

Buyer’s Premium:  A ten percent (10%) 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 percent (2%) 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.

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David R. Maltz, Auctioneer DCA# 762794
Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
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 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.