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6,500+ SQ FT Corner Building
Bankruptcy Auction

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Auction

October 26, 2016 at 11:00 am

2016-10-26 11:00AM

Property Location

720 Sunrise Highway
Baldwin, NY 11510

Auction Location

39 Windsor Place
Central Islip, NY 11722

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Details

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

In Re: GRANDSUN REALTY LLC – Case # 12-73158-LAS

6,500+ Sq Ft Mixed-Use Building at Traffic Light Intersection

Tremendous Exposure – Rooftop Billboard

Details:

  • 720 Sunrise Highway, Baldwin, NY 11510
  • Prime Location at Intersection of Sunrise Highway & Grand Avenue
  • Across from LIRR Baldwin Train Station
  • 6,584 Sq Ft + 3,292 Sq Ft Basement
  • Rooftop Billboard – Phenomenal Exposure
  • First Floor: 3,292 Sq Ft – Retail/Office Space
  • Second Floor: 3,292 Sq Ft – Office Space
  • Basement: 3,292 Sq Ft – Support Area
  • Additional Information:
  • Section: 54   Block:  105  Lot: 5
  • 3,400 Sq Ft Lot (.078 Acres)
  • Approx. 80 Ft Frontage on Sunrise Highway
  • Approx. 60 Ft Frontage on Grand Avenue
  • Annual Real Estate Taxes: $40,614.95

Inspections/Viewings: Monday, October 17th & 24th from 3:00 pm – 5:00 pm each day (Please Bring a Flashlight).

Auction Date & Time:  Wednesday, October 26th at 11:00 am.  Registration begins at 10:00 am.

Auction Location:  Auctioneer’s Gallery, 39 Windsor Place, Central Islip, NY 11722.  Online & absentee bidding available with registration at least 48 business hours prior to auction, please call for details.

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 present a bank check in the amount of $40,000 made payable to “Marc A. Pergament, as Chapter 7 Trustee”.   Please download the complete Terms and 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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Marc A. Pergament, Chapter 7 Trustee
Weinberg, Gross & Pergament LLP, Attorneys for the Chapter 7 Trustee
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.