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Corner Bldg: 41K Buildable
Bankruptcy Auction

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September 13, 2018 at 11:00 am

2018-09-13 11:00AM

Property Location

121-08 Jamaica Avenue
Richmond Hill, NY 11418

Auction Location

NY LaGaurdia Airport Marriott
102-05 Ditmars Boulevard
East Elmhurst, NY 11369

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Bankruptcy Auction – United States Bankruptcy Court Eastern District of New York

In Re: 121-08 Jamaica Avenue LLC – Case #16-40437 (ESS)

9,100+ Sq Ft Building on 13,900+ Sq Ft Corner Lot

41,000+/- Sq Ft Buildable Site – Prime Redevelopment Opportunity


  • 121-08 Jamaica Avenue, Richmond Hill, Queens, NY 11418
  • Ideally Located at the Intersection of 123rd Street & Jamaica Avenue
  • 9,130 Sq Ft Building Operating as “Maracas” Night Club
  • 13,900+ Sq Ft Corner Lot
  • Zoning: R6A with C2-4 Overlay
  • Maximum FAR: 3.0
  • FAR as Built: .59
  • Unused FAR: 32,000+/-
  • Allowable Usable FAR: 41,000+/- Sq Ft
  • Across Street from MTA J/Z Train Access
  • Potential Redevelopment Opportunities Include:
  • 40-Unit Apartment Complex
  • Mixed-Use Building with 35 Residential Units and 5 Commercial Spaces
  • Grandfathered for Potential Cabaret Use
  • Currently Layout:
  • Full Kitchen with Walk-in Boxes
  • Main Dance Floor
  • Bar Area with Refrigeration
  • Public Restrooms
  • Entry Room with Coat Check
  • Stage
  • VIP Lounge Area
  • Owners Room/Office
  • DJ Booth
  • Liquor Storage Room
  • Boiler Room
  • Additional Information:
  • Borough: Queens   Block: 9331   Lot: 8
  • Fully Sprinklered Building
  • 235.37′ Street Frontage (156.63′ on Jamaica Avenue & 78.74′ on 123rd Street)
  • On-Site Parking Lot
  • Annual Real Estate Taxes: $43,500
  • Currently Occupied & Not Delivered Vacant at Closing (Occupant Does Not Have a Lease)

Inspection/Viewing: Thursday, September 6th & Wednesday, September 12th from 10:00 am – 12:00 noon.

Auction Date & Time: Thursday, September 13, 2018 at 11:00 am.  Registration commences at 9:30 am.

Auction Location: (NEW VENUE) NY LaGuardia Airport Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369. 

Terms & Conditions of Sale/Bidding Procedures: Property will be sold free & clear of all monetary liens.  In order to register to bid, all prospective bidders must present a cashiers check in the amount of $225,000 made payable to “Gregory Messer, Esq., as Chapter 7 Trustee”.  Please download the complete Terms of Sale.

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.

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Gregory Messer, Chapter 7 Trustee
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 Trustee, the Attorney for the Trustee nor any of their collective representatives makes any representations or warranties 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 Trustee, the Attorney for the Trustee, 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.