Absolute Attorney's Auction To The Highest Bidder "Federal Hill South" Prime Corner Redevelopment Property Two Buildings, Zoned B-2-3

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Listing Details

Sold Price
$190,000
Auction Date
Auction Time
2:00 PM
Address
1450-1454 Light Street, Baltimore, MD, 21230
County
Baltimore City
Neighborhood
Federal Hill South
Scroll down for Complete Details, including: property description and Terms of Sale.

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

 ABSOLUTE
ATTORNEY'S AUCTION
To the Highest Bidder - Regardless of Price!
                                         
FEDERAL HILL SOUTH

PRIME CORNER
REDEVELOPMENT PROPERTY
Two Buildings  Zoned B-2-3
See Renovation Requirements Below

Sale On Premises
1450-1454 LIGHT STREET
Corner E. Fort Avenue
Baltimore, MD 21230

WEDNESDAY, NOVEMBER 17, 2010
AT 2:00 P.M.

For directions from your location, visit: maps.google.com


        Situated at the gateway to Federal Hill, the southwestern corner of Light Street and Fort Avenue, these three story buildings require rehabilitation or replacement.  Total lot size 47' x 68' m/l.  In fee simple.  Zoning B-2-3, Community Business District.  Federal Hill South is listed by the National Register of Historic Places, providing the opportunity for historic tax credits.   The properties will be sold as an entirety only:

 

  • 1450 Light Street consists of a vacant three story brick storefront building, formerly containing with upper floor apartments.  According to public tax records, the building was constructed circa 1920 and contains 2,040 square feet of building area and 804 square feet of basement space.

 

  • 1452-1454 Light Street consists of a vacant three story brick double storefront building, formerly containing with upper floor apartments.  According to public tax records, the building was constructed circa 1920 and contains 5,652 square feet of building area and 2,120 square feet of basement space.


        BLOCK PLAT (pdf)


TERMS OF SALE


        A $10,000 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.  Balance to be paid in cash within 45 days.  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 of 12% per annum, from date of sale to date of settlement.  All adjustments, including taxes, all other public charges and assessments payable on an annual basis, and 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, and subject to easements, agreements, restrictions or covenants of record affecting same, if any.  Purchaser assumes the risk of loss from the date of sale forward.  The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law.   If the Seller is 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 Seller or Auctioneers.  Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser.  Time is of the essence.


        IMPORTANT - THE PROPERTIES ARE BEING SOLD SUBJECT TO A VACANT HOUSE NOTICE(S) ("VHN") BY THE CITY OF BALTIMORE.  THE PURCHASER SHALL BE REQUIRED TO REHABILITATE THE PROPERTY ACCORDING TO THE ORDER(S) UNDER THAT/THOSE VHN.  These properties are offered subject to a pending vacant building receivership lawsuit filed by the City of Baltimore.  The purchaser is required to be named a party to the lawsuit and agree to court order to rehabilitate the property within a specific time frame.


No Buyer's Premium


Broker cooperation is invited.
BROKER REGISTRATION FORM (pdf)