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

In Re: RJL 60-68 HALSTEAD AVENUE CORP. • Case # 14-22087 (RDD)

6,000± Sq Ft Retail Strip Center – Prime Corner Location

$200,000+ Projected Gross Annual Income

Details:

  • 60-68 Halstead Avenue, Harrison, NY 10528
  • 5,985 Sq Ft Building on Main Thoroughfare
  • 5 Retail Units (Restaurant Occupies Two Spaces)
  • 8,400 Sq Ft Lot (100′ x 84′)
  • 100′ Frontage on Halstead Avenue
  • #1) Restaurant (Double Unit)
  • #2) Nora’s Oven Works
  • #3) Cigar Store
  • #4) Nail & Beauty Salon
  • Utilities Individually Metered
  • Units Have Individual Heaters, Air Conditioning Units & Hot Water Units
  • Units Additionally Each Have a Half Bathroom and Rear Access Door
  • October Rent Received: $15,600 (Equivalent of $187,200 Annually)
  • Rent Pursuant to Lease Agreements: $207,156
  • Annual Real Estate Taxes: $25,300 (appx)
  • ADDITIONAL INFORMATION COMING SOON
  • $1,500,000 Minimum Bid

Inspections/Viewings: Friday, November 13th from 11:00 am – 1:00 pm.

Bidder Qualification Deadline:  Wednesday, November 18, 2015 by 4:00 pm.  See Attached Auction Sale Procedures for Details.

Auction Date & Time:  Thursday, November 19, 2015 at 11:00 am.  Only Qualified Bidders as Defined in Auction Sale Procedures are Qualified to Participate.

Auction Location:  The Offices of Teitelbaum & Baskin, 1 Barker Avenue, Third Floor, White Plains, New York 10601.

Terms & Conditions of Sale: Property will be sold free and clear of all liens, claims & encumbrances.  A $1,400,000 offer has been accepted, subject to higher bids at the auction, with the next bid to be in the minimum amount of $1,500,000.  In order to register to bid, all prospective bidders must provide a good faith deposit of $150,000 in immediately available funds via wire transfer to LaMonica, Herbst & Maniscalco, LLP, as Escrow Agent.  Closing must occur within 20 business days following court approval. Please download the complete Auction Sale Procedures.

Buyer’s Premium:  A six percent (6%) 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.

Salvatore LaMonica, Esq., Plan Administrator

Have Questions? Get In Touch

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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.