"Fells Point National Historic District"

High Visibility Corner Commercial Building Currently Used as a Bar & Restaurant
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Listing Details

Sold Price
$290,000
Auction Date
Auction Time
11:00 AM
Address
500, 500 1/2 & 502 S. Wolfe Street & 1819 Eastern Avenue, Baltimore, MD, 21231
County
Baltimore City
Neighborhood
Fells Point National Historic District
Additional Documents
Termination from the Bankruptcy Court
Financing
See our Financing Page for a list of auction-oriented lenders.
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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We expect this auction to be held as scheduled and anticipate no further cancellation.  If you plan to bid, please preregister so that we can notify you of any last minute changes.

David H. Cohen, Solicitor
Cohen & Forman, LLC
334 St. Paul Place
Baltimore, MD 21202

SUBSTITUTE TRUSTEES' AUCTION

FELLS POINT

National Historic District

High Visibility Corner
COMMERCIAL BUILDING
Currently Used as a Bar & Restaurant

Sale On Premises
Southwest Corner
EASTERN AVENUE
& S. WOLFE STREET
Baltimore City, MD 21231

THURSDAY, MAY 21, 2015
AT 11:00 A.M.

      Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust, Security Agreement and Assignment of Contracts, Leases and Rents (the "Deed of Trust") from Juan Ramos also known of record as Juan Ramos Calixto and Christoballina Ramos also known of record as Christoballina Cruz De Ramos and further known of record as Christobalina Ramos to the Trustees therein, dated July 29, 2004, and recorded among the Land Records of Baltimore City, Maryland, in Liber 5985, Page 184, the holder of the indebtedness secured thereby having appointed David H. Cohen and W. Scott Tinney to act as Substitute Trustees, in place and stead of the aforementioned Trustees, by instrument duly executed, acknowledged and recorded among the Land Records aforesaid, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Substitute Trustees will sell at Public Auction, on the premises, the following:

      All those fee simple lots of ground and the improvements thereon, situate and lying in Baltimore City, State of Maryland and being more fully described in the above-referenced Deed of Trust and comprising the following properties:


500, 500½ & 502
S. WOLFE STREET
& 1819 EASTERN AVENUE

Two & Three Story Corner Retail Building

      Renovated two and three story masonry building, comprising approximately 8,500 square feet, is situated at the southwest corner of Eastern Avenue and S. Wolfe Street. The building is believed to contain "La China Poblano Restaurante" on the first floor and a bar on the second floor. Lot size 75' x 64'. Zoning B-3-2, Commercial.

      NOTE:  The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

      TERMS OF SALE:   A $20,000 deposit, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's Office. The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Baltimore City at the offices of the Substitute Trustees. If payment of the balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. Interest to be charged on the unpaid purchase money, at the rate stated in the Note executed in connection with the foreclosed Deed of Trust, from date of sale to date of settlement. If settlement is delayed for any reason, there will be no abatement of interest. All adjustments as of date of sale. Taxes, rents and all other public charges and assessments payable on an annual basis, including sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale and assumed thereafter by the purchaser. The property will be sold in "AS IS" condition, without express or implied warranty as to the nature and description of the improvements as contained herein; and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of sale forward. The purchaser waives and releases the Substitute Trustees, the holder of the indebtedness, the Auctioneers, and their respective agents, successors and assigns from any and all claims the purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Substitute Trustees are unable to convey good and marketable title, the purchaser's sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Substitute Trustees, the holder of the indebtedness or Auctioneers. Recordation costs, transfer taxes and all other costs incident to settlement to be paid by the purchaser. Time shall be of the essence for the purchaser.

      Authority to cancel this sale rests solely with the Substitute Trustees and/or the Auctioneer. Prospective buyers should disregard all other statements and comments made by any other person or entity regarding minimum bids, pricing and cancellations of the sale. Additional terms may be announced at the time of sale. The Substitute Trustees reserve: (1) the right to accept or reject any or all bids; (2) the right to modify or waive the requirements for bidders' deposits and terms of sale and/or settlement; (3) the right to withdraw the Property from the sale before acceptance of the final bid; and (4) the right to cancel or postpone the sale.

No Buyer's Premium

David H. Cohen and W. Scott Tinney,
Substitute Trustees