"Northeast Baltimore" Landmark Restaurant Real Estate, 7-Day Liquor License, Furniture Fixtures & Equipment Formerly Known As "Angelina's"

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Listing Details

Sold Price
$186,000
Auction Date
Auction Time
11:00 AM
Address
7135 Harford Road, Parkville, MD, 21234
County
Parkville
Neighborhood
Northeast Baltimore, Parkville
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Paul J. Cohen, Solicitor
Cohen & Swanson, P.C.
100 Owings Court - Suite 3
Reisterstown, MD 21136

TRUSTEES' AUCTION
- Northeast Baltimore -

LANDMARK RESTAURANT
Real Estate, 7-Day Liquor License
Furniture, Fixtures & Equipment

Formerly Known As
"ANGELINA'S"

Sale On Premises
7135 HARFORD ROAD
Corner Rosalie Avenue
Parkville, MD 21234

THURSDAY, AUGUST 30, 2012
AT 11:00 A.M.

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


      Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust, Security Agreement, Fixture Filing and Assignment of Rents and Leases (the "Deed of Trust") from CAE, LLC to Paul J. Cohen and Brian J. Frank, Trustees, dated December 2, 2009, and recorded among the Land Records of Baltimore City, Maryland, in Liber 12266, folio 336 and pursuant to a Financing Statement and Security Agreement by and between Saundra Sistrunk-Mason and CAE, LLC, Debtors to Lexington National Insurance Corporation, Secured Party, recorded among the Financing Records of the Maryland State Department of Assessments and Taxation as File No. 0000000181386891, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Trustees and Secured Party will sell at Public Auction, on the premises, the following:


Real Estate


      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.


      The property fronts approximately 29.5' along the east side of Harford Road by approximately 129.5' along the south side of Rosalie Avenue.  The surrounding "Woodring" neighborhood is part of the larger Parkville community, located about five miles northeast of Downtown Baltimore.  Neighborhood housing is a mixture of well maintained, pre-1945 detached homes and townhomes. A traffic signal is at the property, on the corner of Harford Road and Rosalie Avenue. The site is less than two miles south of Baltimore (I-695) Exit 31, providing easy access from throughout the metropolitan area.  Zoning is believed to be B-2-2, Community Business District.


      BLOCK PLAT (pdf)


      The improvements are believed to comprise a two story end-of-group commercial building, originally two townhomes.  According to Baltimore City tax records, the building was constructed in 1932 and contains 5,939 square feet of gross building area. In approximately 1952, Angelina Tadduni and family opened a neighborhood Italian restaurant on the premises.  The first floor contains three connecting dining rooms (approximately 80 seats), two rest rooms, commercial kitchen with updraft and walk-in freezer.  The second floor has a banquet room (approximately 50 seats), an office, storage rooms and liquor room.  The lower level is an approximately 40 seat pub with separate exterior entrance and interior stairway, three walk-in coolers and two rest rooms.  The building has gas forced air heat with first floor central air conditioning, three 200-amp. electric panel boxes and gas water heater.


      Deposit $10,000

Photos of auction property
DINING AREA - PHOTO #1    PHOTO #2    PHOTO #3    PHOTO #4
BAR AREA    BANQUET ROOM   KITCHEN


Personal Property


      7-Day Class B Beer, Wine and Liquor License: permits sales for on-premises consumption in conjunction with a food service operation.  The transfer of this liquor license is subject to the approval of the Board of Liquor License Commissioners of Baltimore as in the case of an original application, and it shall be the sole responsibility of the purchaser to obtain said approval.  In addition, in line with Article 2B of the Annotated Code of Maryland, any tangible personal property taxes, retail sales, amusement, admission and/or withholding taxes must be paid to the City of Baltimore and/or State of Maryland.


      Furniture, Fixtures & Equipment: to be offered as an entirety only, no detail sale - tables, chairs, decorations, cash register system, stainless steel range/oven, work tables, refrigerator, freezer, utensils, slicer, draft beer system, bar equipment and stools, etc.


      Deposit $5,000


Manner & Terms of Sale


      MANNER OF SALE:  First Offering - the real estate will be offered and the bid reserved.  Second Offering - the 7-day liquor license and furniture, fixtures and equipment will be offered together and the bid reserved.  Third Offering - the real estate, liquor license, furniture fixtures and equipment will be offered as an entirety.  The sale will be made in the manner producing the greater amount.


      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: Deposits as stated above, or $15,000 if sold as an entirety, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale.  Real Estate and Entirety Sale - If necessitated by price, 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 a location designated by the 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 foreclosed Deed of Trust Note, from date of sale to date of settlement.  All adjustments as of date of sale.  Taxes 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 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 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 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.  If the license and equipment are sold separately from the real estate - balance in cash shall be paid within 24 hours.  Time shall be of the essence for all purchasers.


      Authority to cancel this sale rests solely with the 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 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 Buyers Premium


Paul J. Cohen and Brian J. Frank, Trustees

Lexington National Insurance Corporation,
Secured Party