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Details

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

In Re: 961-969 Westchester Avenue Corp. – Case # 15-12869 (SCC)

24,000+ Sq Ft Buildable Corner Development Site

Details:

  • 961-969 Westchester Avenue, Bronx, NY 10459
  • Borough: Bronx   Block: 2715   Lot: 1
  • Across from 180,000+ Mixed-Use Redevelopment Site (Including Fresh Start Supermarket & 100+ Residential Units)
  • Flourishing Retail District: Banco Popular, Burger King, Checkers, Chase, Dollar Tree, Gamestop, McDonald’s, Planet Fitness, Sprint, Subway & Walgreens
  • Only 1 Block from the Intervale Avenue Subway Platform (2 & 5 Trains)
  • Less than 1 Mile to I-278 (Bruckner Expressway)
  • 1 Mile to Bronx-Lebanon Hospital
  • Lot Size: 7,006  Sq Ft
  • Lot Dimensions: 100.00′ x 150.08′ x 17.86′ x 113.32′ (Irregular)
  • 100′ Frontage on Westchester Avenue
  • 150′ Frontage on Kelly Street
  • Zoning: R7-1 with C2-4 Commercial Overlay
  • Residential FAR: 3.44 (24,100 Sq Ft Buildable)
  • Annual Real Estate Taxes:  $23,022
  • $1,200,000 Minimum Bid

Inspection/Viewing: Vacant Land – Inspect Freely.

Auction Date & Time:  Thursday, February 9, 2017 at 11:00 am.  Registration begins at 10:00 am.

Auction Location:  NY LaGuardia Airport Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369.  A $1,180,000 bid has been accepted subject to higher bids, with the next bid in the minimum amount of $1,200,000.  Online & absentee bidding available with registration at least 5 business days prior to auction, please call for details.

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 $90,000 made payable to “Leo Fox, as Attorney.”.  Please download the complete Terms and Conditions of Sale.

Buyer’s Premium: A six (6%) 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.

Buyer 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.

Have Questions? Get In Touch

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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