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6 BR Luxury Home on 2+ Acres
Bankruptcy Auction

drone view of 6 bedroom luxury home on 2 plus acres of land at maltz auctions
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July 22, 2021 at 3:00 pm

Registration Deadline

July 21, 2021 at 4:00 pm


July 15, 2021
from 1:00 pm to 5:00 pm

July 20, 2021
from 11:00 am to 5:00 pm

2021-07-22 03:00PM

Property Location

50 Coves Run
Oyster Bay Cove, NY 11791

Photo Gallery


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

In Re: Calton V. Chan & Joanna M. Chan– Case # 20-70661-REG

6 BR Luxury Home on 2+ Acres

Award-Winning Syosset School District


  • 50 Coves Run, Oyster Bay Cove, Nassau County, NY, 11791
  • 5,782 Sq Ft + Full Basement
  • 6 Bedroom, 5.5 Bathroom Colonial Style Home
  • Situated on a 2.215 Acre Flat & Usable Private Lot on Cul-de-sac
  • 3-Car Attached Garage
  • Professionally Landscaped Grounds
  • In-Ground Pool
  • Wired for Audio/Video/Surveillance Throughout Home
  • Crestron Smarthome System (Controls Lights, HVAC, Music & More)
  • 400 Gallon Saltwater Reef Tank Separating the Family Room and Kitchen (Viewable from Both Rooms)
  • 1st Floor:
    • Gourmet Kitchen with Breakfast Nook and Exterior Access
      • Oversized Quartz Kitchen Island
      • 2 Sub-Zero Refrigerators and 4 Sub-Zero Freezers
      • Bluestar 10-Burner/2 Oven Range with La Cornue Hood
      • Miele Coffee Machine
      • 3 Dishwashers
      • Warming Drawer
      • Radiant Heat
      • LED Lighting Above Cabinets
    • Formal Dining Room
    • Living Room
    • Entry Foyer
    • Bar Room Finished With Mahogany Wood and Granite Tops
      • Wet Bar, Sub-Zero 80 Bottle Wine Cooler, 4 Sub-Zero Beverage Refrigerators
    • Play Room/Fitness Room/Piano Room with Exterior Access
    • Powder Room (Half Bath)
    • Double-Sided Fireplace Between the Living Room and Bar Room
  • 2nd Floor:
    • Master Bedroom with Fireplace and 2 Walk-in Closets
      • Ensuite Bathroom with Gas Fireplace, Bain Ultra Tub, Radiant Heat and Custom Shower (Waterfall, 2 Rain Heads, Massaging Jets)
      • Private Screened in Porch (Gas Line Run for Firepit)
    • 2 Bedrooms with Ensuite Bathrooms (1 Bathroom with Radiant Heat)
    • Bedroom/Office with Mahogony Finishes
    • 2 Additional Bedrooms
    • 1 Additional Full Bath
    • Laundry Room
  • Partially Finished Basement: 
    • Full Bath
    • Playroom
    • Family Room
    • Reef Tank Pumps/Filter Closet
    • Cedar Storage Closet
    • Electronics and Utility Room
  • Additional Information:
  • Section: 25  Block: 57   Lot: 16
  • School District: Syosset (Award-Winning District)
  • Fuel/Source: Oil & Electric
  • Heat: 4-Zone Oil Fired Forced Hot Air Plus 3 Radiant Heat Zones (Electric in Basement)
  • 1,000 Gallon Oil Tank
  • 500 Gallon Propane Tank (Pool and Cooking)
  • 4-Zone Central Air Conditioning
  • Central Vacuum System
  • Originally Built in 1987 and Recently Renovated with Top of the Line Fixtures, Appliances, and Finishes
  • Full Attic (Storage, Air Handlers and Wiring)
  • Currently Occupied & Delivered Vacant at Closing
  • Annual Real Estate Taxes: $56,562.23 (without exemptions)

Inspections/Viewings:  Thursday, July 15th & Tuesday, July 20th.  BY APPOINTMENT ONLY.  Click Here to Schedule. No-Walk-ins Permitted, appointments honored on a first come-first served basis. Mask Protocol Strictly Enforced Regardless of Vaccination Status.

Bidder Qualification Deliverables:  A cashier’s check in the amount of $190,000 made payable to “Kenneth P. Silverman, as 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: Wednesday, July 21, 2021 by 4:00 pm.

Auction Date & Time: Thursday, July 22, 2021 at 3:00 pm.  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 14% of the high bid.  Please download the complete Terms & Conditions of Sale.

Buyer’s Premium: A four (4%) 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.

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Kenneth P. Silverman, Chapter 7 Trustee
SilvermanAcampora LLP, Attorneys for the Chapter 7 Trustee
Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Richard B. Maltz, Licensed Real Estate Broker

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.