Net Leased Bank Building
3,000± Sq Ft Prime Corner Building – HAB Net Leased Retail
On-Site Parking – Main Thoroughfare
- 112-17 Liberty Avenue a/k/a 112-19 Liberty Avenue, South Richmond Hill, Queens, NY 11419
- Located on the Northwest Corner of Liberty Avenue and 113th Street
- Prime Location on Main Retail Strip
- Private Parking in Rear of Building
- 3 Blocks to 111th St MTA Subway Station (A-Train)
- 1 Mile to Resorts World Casino NYC/Aqueduct Racetrack
- Less Than 4 Miles to JFK Airport
- Less Than 2 Miles to Jamaica Station Transporation Hub (LIRR, Subway, Bus, Air Train Etc.)
- HAB Leased Premises:
- Entire First Floor & Finished Half of Basement
- Current Annual Base Rent: $120,000
- Lease Expiration: 4/22/24
- Option: (1) 7-Year Option (4/23/24 – 4/22/31)
- Additional Rent: 55% of Real Estate Taxes as of November 2021
- Tenant Pays All Utilities Associated with 1st Floor and Occupied Basement Space
- Additional Space:
- Second Floor Offices Currently Vacant & Delivered Vacant at Closing
- Half of Basement Currently Vacant & Delivered Vacant at Closing
- Projected Gross Income: $36,000
- Additional Information:
- Block: 9517 Lot: 22
- Zoning: R6B with C2-3 Commercial Overlay
- Building Class: Office Buildings – Professional Buildings/Stand Alone Funeral Homes (O7)
- Annual Real Estate Taxes: $33,570.60
Viewings: TBA & By Appointment Only. A Maximum of 2 Attendees Per Appointment. Covid Related Forms Must be Filled out by All Parties Prior to Entry or Access will be Denied. Appointments are Scheduled on a First Come, First Served Basis. MASKS REQUIRED REGARDLESS OF VACCINATION STATUS. Thank you in advance for your understanding and cooperation.
Pre-Registration Required to Bid: You must send in signed Terms & Conditions of Sale, signed Online Bidding Form and a $95,000 deposit to be approved for bidding.
Auction Date: Online-Only bidding will open Monday, June 21, 2021 at 11:00 am and is scheduled to close on Wednesday, June 23, 2021 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: 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 $95,000 made payable to “Richard L. Stern, Esq., as Chapter 7 Trustee”, 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 of the Sale Date. Successful Bidder shall be granted a single 30-day extension to close if he/she posts an additional non-refundable 10% deposit in accordance with the Terms of Sale. If the Successful Purchaser elects to exercise the Extension, the Closing shall take place on or before the seventy-fifth (75th) day following by Sale Date. If the Buyer elects for the extension, said party shall pay interest on the Purchase Price at a nine (9%) percent annual rate from 45 days following the Sale Date through Closing and shall be responsible to pay all real estate taxes from 45 days following the Sale Date through Closing.
Buyer’s Premium: A five percent (5%) 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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Have Questions? Get In Touch
Richard L. Stern, Esq., Chapter 7 Trustee
The Kantrow Law Group, Attorneys for the Chapter 7 Trustee
Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Richard B. Maltz, Licensed Real Estate Broker
The Asset 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 Asset 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 Asset, 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 Asset in making their bids. Neither Maltz, the Trustee 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 Asset. All Bidders acknowledge that they have conducted their own due diligence in connection with the Asset and are not relying on any information provided by Maltz, the Trustee, or their professionals. The Asset 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 Asset. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Asset, including without limitation, environmental and physical condition of the Asset. 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.