14,400 Sq Ft Mixed-Use Bldg
Bankruptcy Auction
Auction
May 9, 2023 at 11:00 am
Registration Deadline
Property Location
78-80 St Marks Place
New York, NY 10003
Details
UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK
In Re: 78-80 ST MARKS PLACE, LLC, – Case No.: 21-12139 (MG)
14,400 SQ Ft Mixed-Use Building
Features Theater, Bar & Eating Establishment
78-80 St. Marks Place, East Village, Manhattan, NY 10003
- 14,400 Sq Ft Mixed-Use 4+ Story Building
- Features a Theater with Backstage Areas, Attached Tavern, and Two Prep Rooms – Combined C of O Capacity of 249 Persons
- Current Configuration Description Below
- 78-80 St. Marks Place Ground Floor:
- Currently Known/Utilized as Theater 80 St. Marks and the William Barnacle Tavern
- Box Office
- Two Prep Rooms, One with Takeout Window on St. Marks(Tenant Recently Vacated, Previously Operated as a Sandwich Shop)
- 2nd-5th Floors; 78 St. Marks Place:
- 2nd Floor: Museum of The American Gangster (Full Bathroom)
- 3rd Floor: Office/Meeting Space (Vacant, Full Bathroom)
- 4th Floor: Residential Unit (Month to Month Tenant, Studio, 1 Bathroom, Balcony)
- 5th Floor: Residential Unit (Month to Month Tenant, 1 Bedroom, 1 Bathroom)
- 2nd-5th Floors; 80 St. Marks Place:
- 2nd & 3rd Floors: Residential Duplex Unit (3 Bedrooms, 2.5 Bathrooms, Screen Room, Balcony off Front, Usable Rooftop Space Off Back)
- 4th Floor: Residential Unit (Vacant, 1 Bedroom, 1 Bathroom, Balcony)
- 5th Floor: Storage Space (Vacant)
- Combined Basement Space:
- Utilized for Storage & Utilities
- Walk-in Refrigerator
- Single Gas Fired Furnace for Entire Building
- 9 Electric Meters & 1 Gas Meter
- Additional Information:
- Borough: Manhattan Block: 449 Lot: 28
- Lot Dimensions: 50′ x 97.5′
- Lot Size: 4,875 Sq Ft
- Building Class: C7 (Walk-Up Apartments)
- Structure Type: Theater (Live)
- Zoning: R7A/C1-5
- Tax Class: 2B
- Year Built 1920
- Annual Real Estate Taxes: $124,988.48
Inspections/Viewings: Available by Appointment.
Bidder Registration Deliverables: A cashier’s check in the amount of $950,000 made payable to “Marianne T. O’Toole, 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 Registration Deadline.
Registration Deadline: Monday, May 8, 2023 at 5:00 pm.
Auction Date & Time: Tuesday, May 9, 2023 at 11:00 am. Only Registered Bidders as defined in the Terms & Conditions of Sale are qualified to participate and will be Granted Access Credentials. Auction Date/Time are Subject to Court Approval.
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: Please download the complete Terms & Conditions of Sale. Among other things, the 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, the Successful Bidder must post a deposit in the total amount of 14% of the high bid.
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.
Documents
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Marianne T. O’Toole, Chapter 7 Trustee
LaMonica Herbst & Maniscalco, LLP, Attorneys for the Chapter 7 Trustee
Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
Richard B. Maltz, Licensed Real Estate Broker
*The Property is being sold “AS IS” “WHERE IS”, “WITH ALL FAULTS,” without any representations, covenants, guarantees or warranties of any kind or nature whatsoever. Neither the Trustee nor any of her representatives make any representations or warranties with respect to the permissible uses of the Property including, but not limited to, the zoning of the Property. All interested parties are responsible for conducting their own independent inspections, investigations, inquiries, and due diligence concerning the property including, without limitation, the environmental and physical condition of the Property.