"Downtown Baltimore" Four Story Brick Commercial Building


Listing Details

Sold Price
Auction Date
Auction Time
1:30 PM
411 W. Saratoga Street, Baltimore, MD, 21201
Baltimore City
Downtown Baltimore
Scroll down for Complete Details, including: property description, Terms of Sale and more.

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


Four-Story Brick

 Sale On Premises
Off 200 N. Eutaw Street
Baltimore, MD 21201

MONDAY, MAY 4, 2009
AT 1:30 P.M.

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     Under and by virtue of the power of sale contained in a certain Mortgage from Shem Musaka, Mortgagor, dated March 16, 1998, and recorded among the Land Records of Baltimore City, Maryland, in Liber 7241, folio 496, the holder of the indebtedness secured thereby having assigned said Mortgage to David H. Cohen and W. Scott Tinney to act as Assignees for the purpose of foreclosure, 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 Assignees will sell at Public Auction, on the premises, the following:

     All that leasehold 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; subject to an annual $16.50 ground rent, payable half-yearly on the 14th days of June and December, in each and every year;  lot size 16'6" x 66', more or less.

    Block Plat (pdf)

    The improvements comprise a four-story brick inside-group building.  According to public tax records, the building was constructed in 1870 and contains 2,979 square feet, more or less;  zoning B-4-2, central business district.

     TERMS OF SALE:  A $5,000 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 Assignees.  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 Mortgage, from date of sale to date of settlement.  All adjustments as of date of sale.  Taxes, ground rent 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 Assignees, 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 Assignees 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 Assignees, 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

                                                                       David H. Cohen, W. Scott Tinney, Assignees