David R. Maltz & Co., Inc. recently sold at Public Auction a 53,000 Sq Ft mixed-use building in Jersey City, NJ raising $16,700,000 for the estate.
With only 45 days from retention to auction, Maltz assembled a four member team to focus on the sale of this building. Through the implementation of a highly effective marketing campaign, in excess of 250 inquiries from three continents were fielded by Maltz.
A minimum opening bid of $14,700,000 was established prior to the auction and six bidders ultimately registered, each posting a $1,000,000 bank check. After highly spirited bidding, the property was sold to a well-qualified investor with one month to close the non-contingent transaction.
All parties involved in the Public Auction of this property were very pleased with the bid results and timely closing. With only 45 days to market this income producing property, David R. Maltz & Co., Inc. yet again showed why they are referred to by many as the premier Real Estate Auction firm in the Northeast.
About David R. Maltz & Co., Inc.
David R. Maltz & Co., Inc, is the premier full service auction company specializing in the timely sale of real estate in a professional manner. Since inception more than 35 years ago, they have built a $100+ million a year corporation with an impeccable reputation for professionalism, honesty, integrity and success. The firm has conducted thousands of auctions on behalf of such clients as the United States Bankruptcy Courts and Financial Institutions throughout the United States, the United States Department of Justice, the Internal Revenue Service, the United States Government Small Business Administration, law firms, private individuals and corporations nationwide. David R. Maltz & Co., Inc. is nationally recognized as a name in excellence and achievement.