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Foreclosed Property Auction

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November 19, 2020 at 1:00 pm

Online Bidding

November 17, 2020 at 1:00 pm

November 19, 2020 at 1:00 pm
2020-11-19 01:00PM

Property Location

398 Forest Avenue
Locust Valley, NY 11560


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Foreclosed Property Auction

10,000+ Sq Ft Development Site

Approved Plans & Permits – 8 Units (7 Residential & 1 Commercial)


  • 398 Forest Avenue & 13 13th Street, Locust Valley, Nassau County, NY 11560
  • 10,050 Sq Ft Fully Approved Development Site – 8 Units (7 Residential & 1 Commercial)
  • Ideally Located Across from the Nassau County Country Club Golf Course
  • Approved Plans for a 7,654 Sq Ft 2-Story Elevator Building with On-Site Parking
  • First Floor: 3,827 Sq Ft
  •     Commercial Space: 803 Sq Ft Open Floor plan Layout with ADA Compliant Bathroom
  •     (2) 760 Sq Ft 1 Bedroom Units
  •     (1) 499 Sq Ft Studio Unit
  • Second Floor: 3,827 Sq Ft
  •     (3) 700 – 738 Sq Ft 1 Bedroom Units
  •     (1) 531 St Ft Studio Unit
  • Partial Basement Housing Utilities
  • Mail Room
  • Janitor Room
  • .4 Miles to Town Shopping and Restaurant District
  • Less than 1 Mile to Locust Valley LIRR Station
  • Additional Information:
  • County: Nassau;  Section: 30;  Block: 22;   Lots: 30, 31, 34 & 35
  • Locust Valley Central School District # 3-4
  • 100′ Street Frontage
  • Permit Application # 17100103
  • NC 239F Reference # 8573
  • Annual Real Estate Taxes: $16,359.23
  • Currently Vacant & Delivered Vacant at Closing
  • Please Click Here for Additional Information
  • Previously Listed at $899,000
  • $499,000 Minimum Bid


Bidding is available by computer or download of the Maltz Auctions App on the App Store or Google play

Viewings: Vacant Land – Inspect Freely.

Pre-Registration Required to Bid:  You must send in signed Terms & Conditions of Sale, signed Online Bidding Form and a $50,000 deposit to be approved for bidding.  Acceptable forms of deposit are cashier’s check, postal money order, and wire transfer (funds must be received at least 24 hours prior to the scheduled end time of the auction or you may not be approved to bid prior to the scheduled conclusion of the auction).

Auction Date: Online-Only Bidding will open Tuesday, November 17, 2020 at 1:00 pm and is scheduled to close on Thursday, November 19, 2020 at 1:00 pm.  Visit 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.  If/once no further bidding activity occurs, the sale closes when the time runs out.

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 cashier’s check in the amount of $50,000 made payable to “Maltz Auctions”, 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.  Closing must occur within 45 days after the auction. Successful Bidder shall be granted a single 30-day extension to close if he/she posts an additional non-refundable 10% deposit.  Please download the complete Terms and Conditions of Sale. Please download the complete Terms and Conditions of Sale.

Buyer’s Premium: An eight (8%) 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.

Broker Participation: A two (2%) percent 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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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.