10,000 Sq Ft Multi-Fam Bldg
- February 7, 2023 at 11:00 am
- February 9, 2023 at 11:00 am
- February 2, 2023
- from 10:00 am to 1:00 pm
422 East 161st Street
Melrose, Bronx, NY 10451
10,000+ Sq Ft Multi-Family Building
10 Rent Stabilized Apartments
422 East 161st Street, Melrose, The Bronx, NY 10451
- 10 Unit Rent Stabilized Building
- 10,425 Sq Ft 5-Story Walk-up
- 2 Units on Each Floor
- All 3 Bedroom & 1 Bathroom Railroad Style Units
- $180,000+ Annual Rent Roll
- 2.5 Blocks to Metro-North Railroad Melrose Station
- .5 Block to MTA Bus Lines BBx6, Bx6-SBS, Bx13
- 1 Block to Yolanda Garcia Park
- .8 Miles to Yankee Stadium
- .8 Miles to MTA Subway 161 Street Station (B, D & 4 Lines)
- 1 Mile to the Major Deegan Expressway
- 1 Mile to the Macombs Dam Bridge
- Borough: Bronx Block: 02382 Lot: 0014
- Building Class: C4 (Walk-Up Apartments)
- Fuel: Gas
- 2 Gas Meters (Cooking and Heat)
- 11 Electric Meters (1 Per Apartment & 1 Common)
- Tax Class: 2B (7-10 Units Residential Rental Building)
- Primary Zoning: R8 with a C1-4 Commercial Overlay
- Year Built: 1931
- Annual Real Estate Taxes: $14,972.84
- Currently Occupied & Sold Subject to Tenancies
- $1,000,000 Opening Bid
Viewings: Thursday, February 2nd from 10:00 am to 1:00 Pm. (limited Building Access).
Pre-Registration Required to Bid: You must send in signed Terms & Conditions of Sale, signed Online Bidding Form, and a $100,000 deposit to be approved for bidding.
Auction Date: Online-Only Bidding will open Tuesday, February 7, 2023 at 11:00 AM and is scheduled to close on Thursday, February 9, 2023 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: The Real Property will be sold free and clear of any and all monetary liens. In order to register to bid, all prospective bidders must Deliver a cashier’s check in the amount of $100,000 made payable to “Leo Fox, Esq., as Attorney”, signed Terms & Conditions of Sale, and signed Online Bidding Form to Maltz Auctions at 39 Windsor Place, Central Islip, NY 11722 before Wednesday, February 8, 2023 at 4:00 pm. Please download the complete Terms & Conditions of Sale.
Buyer’s Premium: A six percent (6%) Buyer’s Premium will be added to the Successful Purchaser’s high bid to determine the contract price to be paid by the Successful Purchaser.
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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Leo Fox, Attorney for the Chapter 11 Debtor and Debtor in Possession
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 Potential Buyer 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 offers. Neither Maltz, the Chapter 11 Debtor & Debtor in Possession, the Attorney for the Chapter 11 Debtor & Debtor in Possession 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 Chapter 11 Debtor & Debtor in Possession, the Attorney for the Chapter 11 Debtor & Debtor in Possession, 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 submitting an offer. Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.