Stunning 5.6+ Acre Waterfront Estate to be Auctioned by Order of the Securities and Exchange Commission

Perfect for Car Aficionado, Property Has Climate Controlled Garage for 30+ Cars

Scheduled for Thursday, December 17th at 7:00 pm

CENTRAL ISLIP, N.Y., Dec. 16, 2015 (GLOBE NEWSWIRE) -- Maltz Auctions, a leading full-service auction company serving the New York metropolitan region, announced today a rare opportunity to acquire the 5.6+ acre waterfront property with spectacular views, as well as a garage for 30+ automobiles, located at 30 Baycrest Drive, Huntington Bay, NY 11743 within the private Bay Crest Association community. This is a Securities and Exchange Commission ordered auction- Case No. 09-CV-07594-KBF-THK.

"It's rare that an opportunity to purchase such an incredible property comes around," said Richard Maltz, president of Maltz Auctions. "And yes- the main house needs substantial work but its location and views are its best features. The two-bedroom guest home is newly renovated so one could live there while construction was going on in the main house."

Main Home:

• 5,000 Sq. Ft. (approx.) Main Home (substantial renovation required)
  • 6 Bedrooms
  • 4 Bathrooms
    • First Floor:
      • Living Room with Fireplace
      • Family Room with Fireplace
      • Dining Room with Fireplace
      • Eat-in-Kitchen
      • Butler's Pantry
      • Sunroom
      • Screened-In Patio
      • Half Bath
    • Second Floor:
      • Master Suite with Fireplace & En-suite Bathroom
      • 5 Additional Bedrooms
      • 3 Additional Bathrooms
    • Full & Unfinished Basement
    • 1-Car Garage
    • Central HVAC

Guest Home:

• 2 Bedrooms
• 1 Bathroom
• Hardwood Floors
• Gourmet Eat-in-Kitchen
• Living Room
• Central HVAC

30+ Car Garage:

• Two Levels
• Climate Controlled

Additional Improvements:

• House, Garage & Guest House Have Independent Utility Meters
• Natural Gas at Property
• Tax Map # 0402-003.00-01.00-26.000
• Zoning: R40 (1-Acre Minimum Lot Size)
• Located within Private Bay Crest Association
• Annual Association Dues: $2,000 (Appx)
• Annual Real Estate Taxes: $55,693.80 + Village of $7,224
• Previously Listed at $5,500,000
• $1,950,000 Suggested Opening Bid

Auction Date & Time: Thursday, December 17th at 7:00 pm. Registration begins at 6:00 pm.

Auction Location: Marriott Residence Inn, 9 Gerhard Road, Plainview, NY 11803. 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 and clear of all liens, claims & encumbrances. In order to register to bid, all prospective bidders must present a cashier's check in an amount of $195,000 made payable to "Windels Marx Lane & Mittendorf Escrow Account". Closing shall occur on February 29, 2016. Please download the complete Terms and Conditions of Sale available on MaltzAuctions.com.

Buyer's Premium: A six percent (6%) 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.

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 on our website for details.

These properties are just a selection of many sites – including premiere and commercial, distressed and non-distressed real estate – auctioned by Maltz Auctions. In addition to real estate, Maltz Auctions specializes in personal and intellectual property auctions.

"We pride ourselves in our ability to help owners who seek to establish liquidity from illiquid assets," said David Maltz, the company's CEO.

To learn more about Maltz Auctions, including its 25+ currently scheduled auctions, visit MaltzAuctions.com or call 516.349.7022.

About Maltz Auctions

Maltz Auctions is a premier, full-service auction company specializing in creating liquidity through the auction method of marketing. Now a $100+ million company with an impeccable reputation for professionalism, integrity and success, Maltz Auctions has conducted thousands of auctions and generated over $2 billion in sales on behalf of such clients as the U.S. Bankruptcy Courts and financial institutions throughout the country, the U.S. Department of Justice, Internal Revenue Service, N.Y. State Department of Taxation & Finance, Court Appointed Receivers, Estate Executors and Public Administrators, as well as law firms, private individuals and corporations, nationwide. The principals are court approved auctioneers, real estate brokers and receivers. The 35-year-old firm is nationally recognized as a trusted name in excellence and achievement. www.MaltzAuctions.com