"Franklin Square" Three Story Storefront Building "Something Fishee" Restaurant and 2 Apartments

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Listing Details

Sold Price
$131,000
Auction Date
Auction Time
11:30 AM
Address
1501 W. Baltimore Street, Baltimore, MD, 21223
County
Baltimore City
Neighborhood
Franklin Square
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Jasmin M. Torres, Solicitor
19 E. Fayette St. - Suite 401
Baltimore, MD 21202

SUBSTITUTE TRUSTEE'S AUCTION
                                    
FRANKLIN SQUARE


Renovated, 3 Story Brick
STOREFRONT BUILDING

"Something Fishee" Restaurant
and 2 Apartments

Sale On Premises
1501 W. BALTIMORE STREET
Corner Stricker Street
Baltimore, MD 21223

FRIDAY, FEBRUARY 19, 2010
AT 11:30 A.M.

(Inspection 10:30 A.M.)

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


        Under and by virtue of the power of sale contained in a certain Deed of Trust from Alisa C. Tyson to the Trustee therein, dated June 25, 2003, and recorded among the Land Records of Baltimore City, in Liber 4010, Page 105, the holder of the indebtedness secured thereby having appointed Jasmin M. Torres to act as Substitute Trustee, in place and stead of the aforementioned Trustee, 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 Trustee will sell at Public Auction, on the premises, the following:


        All that fee simple lot 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; lot size 18' x 120', more or less.


        The improvements comprise a three story brick corner storefront building.  The first floor front is occupied by the "Something Fishee" restaurant.  The building also reportedly has two apartments.  According to public tax records, the building was constructed in 1920, contains 4,838 square feet of gross building area and is zoned B-2-3, community business with the last permitted use as a restaurant and 2 dwelling units.


        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. 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 Trustee. 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. All adjustments as of date of sale. Taxes and all other public charges and assessments, billed or unbilled, payable on an annual basis or otherwise, 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 violations, 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 Trustee, 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 Trustee 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 Substitute Trustee, the holder of the indebtedness or Auctioneers. Recordation costs, transfer taxes and all other costs incident to settlement, including a $300 document review fee by the Seller's attorney, to be paid by the purchaser. Time shall be of the essence for the purchaser.  No Buyers Premium.


Jasmin M. Torres, Substitute Trustee

 

INSPECTION TIME

Inspection Time:  10:30 a.m. on the day of sale.