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Mixed-Use Building
Bankruptcy Auction

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Online Bidding

Starts:
February 28, 2023 at 11:00 am

Ends:
March 2, 2023 at 11:00 am
2023-03-02 11:00AM

Property Location

99 Belmont Avenue
Brooklyn, NY 11212

Bid

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Details

UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF NEW YORK
In Re: 99 Belmont LLC, – Case No.: 22-40236 (JMM)

2,400 Sq Ft Mixed-Use Building + Full & Finished Basement

Located in Opportunity Zone

99 Belmont Avenue, Brownsville, Brooklyn, NY 11212

  • 2,400 Sq Ft Mixed-Use Building + Full & Finished Basement
  • 1 Commercial Ground Level Space
  • Upper Floors Structured as a 6-Unit SRO
  • Currently Vacant & Delivered Vacant at Closing

Commercial Space:

  • 1,600 Sq Ft Space (800 Sq Ft on First Floor & 800 Sq Ft on Lower Level)
  • Previously Utilized as Church
  • 1st Floor
    • Main Assembly Room
    • 1 Half Bath
    • Utility/Storage Room
  • Basement/Lower Level (Full & Finished):
    • 2 Half Baths
    • Meeting Space
    • Utility Room
    • Meter Room

Residential Units:

  • 2nd Floor:
    • 3 SRO Units
    • Shared Kitchen
    • 1 Full Bathroom
  • 3rd Floor:
    • 3 SRO Units
    • Shared Kitchen
    • 1 Full Bathroom

Additional Information:

  • Borough: Brooklyn   Block: 3726  Lot: 40
  • Lot Size: 1,000 Sq Ft (20′ x 50′)
  • Class: Primarily Two Family with One Store or Office
  • Zoning: R6 with C1-3 Commercial Overlay
  • Land Use: Mixed Residential & Commercial Buildings
  • Building Size: 3,200 Sq Ft Including Finished Basement
  • Fuel: Gas
  • Heat: Hot Water
  • Room for Four Electrical Meters (3 Currently)
  • 3 Gas Meters
  • 1 Furnace & 1 Standalone Hot Water Heater
  • Year Built: 1899 (Estimated)
  • Annual REal Estate Tax: $1,252.48
  • $540,000 Opening Bid

Viewings: TBA.

Pre-Registration Required to Bid:  You must send in signed Terms & Conditions of Sale, signed Online Bidding Form, and a $54,000 deposit to be approved for bidding.

Auction Date: Online-Only Bidding will open Tuesday, February 28, 2023, at 11:00 AM and is scheduled to close on Thursday, March 2, at 11:00 am. Visit RemoteBidding.MaltzAuctions.com or download the Maltz Auctions App on the Apple Store or Google Play.

Bidding Process: If a bid is placed with less than one minute remaining, the bidding period will be extended so one minute remains for competing bids to be entered.  If any further bidding occurs, the extension timer will reset to one minute.  Once no further bidding activity occurs, the sale closes when the time runs out.

Terms & Conditions of Sale: Sold free and clear of all monetary liens.  In order to register to bid, all prospective bidders must present a cashier’s check in the amount of $54,000 made payable to “Silvermanlaw, PLLC Liquidating Agent”, signed Terms & Conditions of Sale, and signed Online Bidding Form to Maltz Auctions at 39 Windsor Place, Central Islip, NY 11722 twenty-four hours prior to the scheduled close of bidding.

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.

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99 Belmont LLC, Chapter 11 Debtor and Debtor in Possession
Silverman Law, PLLC, Liquidating Agent
Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022 Fax (516) 349-0105