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Diamond District Condo
Bankruptcy Auction

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Auction

May 24, 2017 at 11:00 am

2017-05-24 11:00AM

Property Location

62 West 47th Street
Unit 309/309A
Manhattan, NY 10036

Auction Location

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

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Details

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

In Re: SIRGOLD, INC. – Case #16-12963 (SCC)

1,300+ Sq Ft Commercial Condominium

Located in the Heart of NYC’s Diamond District

Details:

  • 62 West 47th Street, Unit #309/309A, Diamond District, Manhattan, NY 10036
  • Building Known as “The Diamond & Jewelry Industry Commercial Condominium”
  • 1,324 Sq Ft Commercial Condominium Divided into 2 Units, 309 & 309A
  • Unit 309 Currently Occupied (Estimated at 700 Sq Ft)
  • Lease Overview:
  •  Duration: 6/1/2013 – 5/31/2022
  •  Current Base Rent: $2,600/Month
  •  Tenant Responsible for 50% of Real Estate Tax Increase Over Base Year ($22,464)
  •  No Renewal Option
  • Additional Information:
  • .96% Common Interest Allocated to Unit
  • Monthly Common Charges: $1,175.43 plus Fuel Adjustment of $43.94
  • Annual Real Estate Taxes: $26,315

Inspections/Viewings: Mondays, May 15th & 22nd from 1:00 pm – 3:00 pm.

Auction Date & Time: Wednesday, May 24, 2017 at 11:00 am.  Registration commences at 9:30 am.

Auction Location: NY LaGuardia Airport Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369. 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 & clear of all liens, claims and encumbrances.  In order to register to bid, all prospective bidders must present a certified check in the amount of $65,000 made payable to “Salvatore LaMonica, Esq., as Chapter 11 Trustee”.  Please download the complete Terms and Conditions of Sale.

Buyer’s Premium: A five (5%) 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.

Salvatore LaMonica, Esq., Chapter 11 Trustee

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LaMonica Herbst & Maniscalco, LLP, Attorneys for the Chapter 11 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 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.