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Retail Building – Near 25A
Bankruptcy Auction

front of retail building on street for sale at maltz auctions
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Auction

February 11, 2016 at 11:00 am

Property Location

16 Broadway
Rocky Point, NY 11778

Auction Location

39 Windsor Place
Central Islip, NY 11722

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Details

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

In Re: David Lotito a/k/a David J. Lotito and Jaclyn Lotito a/k/a Jaclyn H. Lotito Case – No.15-72794-LAS

Freestanding Retail Building on 4,000 Sq Ft Lot

Adjoins Municipal Parking Lot

Details:

  • 16 Broadway, Rocky Point, NY 11778
  • Ideally Located on Retail Strip Just off 25A
  • Can be Utilized as One Large Office Space or Two Smaller Offices Spaces
  • Commercial Zoning Designation
  • Municipal Lot Adjacent to Building
  • Unit A: (South Side)
  •     Previously Utilized as a Chiropractors Office
  •     Waiting Room
  •     Rececptionist Office
  •     Half Bath
  •     Exam Room/Office
  •     Rear Access
  •     100 Amp Service
  •     Electric Heat
  • Unit B: (North Side)
  •     Previously Utilized as a Professional Office
  •     3 Offices
  •     Half Bath
  •     Rear Entry
  •     100 Amp Service
  •     Electric Heat
  • Situated on a 4,000 Sq Ft Lot (40′ Wide x 100′ Deep)
  • Annual Real Estate Taxes: $9,604.56 (Click here for Bill)
  • $131,250 Minimum Bid

Inspection/Viewing: Monday, February 8th from 11:00 am – 1:00 pm.

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

Auction Location:  Auctioneer’s Gallery, 39 Windsor Place, Central Islip, NY 11722.

Terms & Conditions of Sale: Property will be sold free and clear of all liens, claims & encumbrances. The Trustee, through his Auctioneer, has received and accepted a $125,000 offer, subject to higher bids at the auction.  The next acceptable bid will be in the minimum amount of $131,250.  In order to register to bid, all prospective bidders must present a bank check in the amount of $20,000 made payable to “Allan B. Mendelsohn, as Trustee”.  Please download the complete Terms & Conditions of Sale.

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Allan B. Mendelsohn, Chapter 7 Trustee
David R. Maltz, Auctioneer DCA# 762794
Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022 Fax (516) 349-0105

This Property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the Property is made by the Trustee, Attorney for the Trustee, Auction Company or any of their Agents.  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 and/or Buyer’s Broker 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.