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PRIME COMMERCIAL PROPERTY

PRIME COMMERCIAL PROPERTY
109909
NA

PRIME COMMERCIAL BUILDING COMPLETELY RENOVATED W/ GROUND FLOOR RETAIL (CURRENTLY A PIZZERIA) AND (2) APPARTMENTS ON 2ND FLOOR.

Tue Sep 13 10:00:00 CDT 2011

PRIME COMMERCIAL PROPERTY

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Auction Date:

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<p>PRIME COMMERCIAL BUILDING COMPLETELY RENOVATED W/ GROUND FLOOR RETAIL (CURRENTLY A PIZZERIA) AND (2) APPARTMENTS ON 2ND FLOOR.</p>

SELLS TUESDAY, SEPTEMBER 13, 2011 AT 11:00AM AT 134-07 ROCKAWAY BLVD., SOUTH OZONE PARK, NEW YORK 11420

 

PRIME COMMERCIAL PROPERTY

 

134-07 ROCKAWAY BLVD., SOUTH OZONE PARK, NEW YORK 11420: BUROUGH, BLOCK & LOT: QUEENS (4), 11701, 0007, ANNUAL TAXES (2011): $2,949.84

THIS DESIRABLE COMPLETELY RENOVATED PROPERTY CONSISTS OF 1,140S.F. OF RETAIL ON GROUND FLOOR (CURRENTLY TURNKEY PIZZERIA/RESTAURANT) & 1,140S.F. ON 2ND FLOOR CONSISTING OF: (1) 2-BEDROOM APARTMENT & (1) 1-BEDROOM APARTMENT. PREVIOUS/PROJECTED NOI = $47,300.00

 

INSPECTION: BY APPOINTMENT & 10:00AM DAY OF SALE

 

 

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 $50,000. made payable to "American ALA, Inc."  Closing must occur within 45 days after the auction. Successful Bidder shall be granted a 30-day extension to close if he/she posts an additional non-refundable 10% deposit. Subject to sale prior to auction as pre-auction offers will be considered. Please download the complete Terms and Conditions of Sale. 

Buyer's Premium:  A seven and one half percent percent (7.5%) Buyer's Premium will be added to the successful bidder's high bid to determine the contract price to be paid by the purchaser.

Buyer Broker Participation:  A two percent (2%) 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.

 

516/631.777.7295 / 800.837.0447 / www.AmericanAssetsOnline.com

 

MEMBER NAA, NYSAA, ABI, CAGA

 

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 Seller, 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 measurements and specifications of the 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 Sale.

Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.

  1. Buyer is required to maintain a 50% deposit on all items purchased at the auction. This is a nonrefundable deposit.
  2. A premium of 15% of the bid will be added to the price of each item purchased.
  3. Deposits and payments will be accepted in the form of cash or cashiers’ check, wire transfer, or business check accompanied by a bank letter of guarantee. Bank letters must contain specific information. Please see auction personnel for more information.
  4. The condition of the merchandise being offered varies. The Buyer understands and agrees: (1) that any description or sample of the merchandise given or furnished by the Auctioneer is derived from records, documents or other information that may be unverified as to accuracy, and is solely for identification, and does not create any warranty, expressed or implied, that the merchandise actually conforms to such description or sample; (2) that all merchandise is purchased and accepted by Buyer “AS IS” “WHERE IS” and “WITH ALL FAULTS.” AUCTIONEER MAKES NO WARRANTIES OR GUARANTEES WHATSOEVER WHETHER WRITTEN, ORAL OR IMPLIED AS TO QUALITY, QUANTITY, CONDITION, USABILITY, SALEABILITY, WEIGHT, MEASUREMENT, YEAR, MODEL, MECHANICAL CONDITION, PERFORMANCE, OR OTHER SPECIFICATIONS. MANUFACTURERS WARRANTIES MAY BE IN EFFECT.
  5. Auctioneer reserves the right to group, reduce, add or delete lots. In the event there is a dispute between two or more clients of entitlement as the successful bidder, Auctioneer reserves the right to reauction the item in dispute.
  6. Any announcements made on the day of the auction take precedence over catalog or other previously announced or documented information, but do not alter any way the basic terms and conditions of sale.
  7. No checkout will be permitted during the auction sale. All purchases mist be paid for in full before merchandise will be released from the premises.
  8. All purchases must be paid for on auction day. If not, the merchandise will be deemed abandoned and Buyer will lose any right, title or interest Buyer may have acquired and the merchandise shall revert and repossess to Auctioneer without further notice to Buyer and the transactions shall be null and void as to Buyer.
  9. If any applicable conditions are not complied with by Buyer, then, in addition to other remedies available to Auctioneer, including and without limitations, the right to hold Buyer liable for the total purchase price, Auctioneer may, at its option, (a) cancel the sale, retaining all payments made by Buyer, and/or (b) resell the merchandise, for ay deficiency between Buyer’s original purchase price and subsequent resale price, Auctioneer’s commission, and all other expenses related to the disposal of the abandoned property . In addition, a defaulting Buyer will be deemed to have granted Auctioneer as a security interest in the merchandise which Auctioneer may retain as collateral security for Buyer’s obligation to Auctioneer.
  10. Buyer is solely responsible to provide all personnel, equipment or material needed to pick up purchases and shall assume all responsibility for the removal of any item of property purchased at the sale and any and all risks associated with such removal including, without limitations, full financial responsibility for any damage or liability to persons or property resulting from any negligent act for omission of buyer or any buyer’s employees, agents and/or representatives during pick-up and removal.
  11. Buyer agrees that in the event purchased merchandise contains any environmental hazards, toxic waste or other type of hazardous material in any form whatsoever, Buyer shall provide evidence that Buyer or its representatives are licensed for such removal and shall comply with all applicable local, sta te and/or federal rules, laws and regulations. Auctioneer, its agents or representatives shall not be responsible for its containment, storage or removal.
  12. Persons in attendance during inspection, sale or removal of merchandise assume all risks of damage or loss to persons, property, or merchandise and shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health requirements as provided by local, state and federal regulations, and as directed by Auctioneer. Neither Auctioneer, its agents, its employees or representatives shall be liable by reason of any defect in or about the condition of the premises on which the auction is held. Buyer specifically releases Auctioneer, its agents and representatives from all liability thereof.
  13. In no event will Auctioneer’s liability to Buyer exceed the purchase price actually paid. A Buyer’s claim shall be limited to the amount paid for the merchandise, and shall not extend to any obligation; risk; liability; right; claim; remedy for loss of use, revenue or profit; liability of Buyer to any third party; personal injury; or any other direct; indirect, incidental or consequential damages.
  14. Buyer agrees to indemnify, defend and hold harmless Auctioneer and its agents and representatives, from any and all demands, claims, losses, damages and liabilities asserted against, resulting to or imposed upon Auctioneer resulting from the negligence of Buyer or his/her employees, agents and representatives, while in, at or about the auction premises during the inspection, sale or removal or merchandise.
  15. Bidders’ paddles are nontransferable. All bids made by the holder of the paddle will be the responsibility of the Buyer. A successful bid at auction constitutes a legally binding contract of sale.

ALL SALES ARE FINAL! NO REFUNDS, RETURNS OR EXCHANGES!

Office Hours:
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Phone:
516-777-7295
631-777-7295
800-837-0447

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