APPROVED DEVELOPMENT SITE
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
ONLINE-ONLY BIDDING – CLICK HERE FOR ONLINE BIDDING
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 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. 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.
Due Diligence Documents
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Have Questions? Get In Touch
Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022 Fax (516) 349-0105