"McElderry Park - East Monument" Circa 1878 Stone Church & Related Properties

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Listing Details

Sold Price
$400,000
Auction Date
Auction Time
11:00 AM
Address
401-407 N. Patterson Park Avenue, 409 N. Patterson Park Avenue and 2306 Orleans Street, Baltimore, MD, 21231
County
Baltimore City
Neighborhood
McElderry Park, East Monument
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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

TRUSTEES' AUCTION
                                   
McELDERRY PARK
National Register of Historic Places
"East Monument"

Circa 1878
STONE CHURCH
& Related Properties

Sale On Premises
401-407 N.
PATTERSON PARK AVENUE
Corner Orleans Street, Baltimore, MD 21231
409 N. Patterson Park Avenue 21231
& 2306 Orleans Street 21224

THURSDAY, AUGUST 11, 2011
AT 11:00 A.M.

Open for inspection at 10:15 A.M.


      Under and by virtue of the Power of Sale contained in that certain Purchase Money/Money Loaned Deed of Trust and Assignment of Rents (the "Deed of Trust") from Because He Lives Ministries, Seafort Enterprise, Inc. and Winston Nugent, Jr., Borrowers to David H. Cohen and/or Geoffrey L. Forman and/or W. Scott Tinney, IV, Trustees, dated November 12, 2009 and recorded among the Land Records of Baltimore City in Liber 12190, page 104, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned 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 Deed of Trust, comprising the following properties:


      401-407 N. Patterson Park Avenue - the property comprises a rectangular corner lot, fronting 86' along Patterson Park Avenue by 80' along Orleans Street, more or less, and is improved by a stone church building. According to public tax records, the building was constructed in 1878 and containing 8,616 square feet of gross building area.  The building is believed to contain a sanctuary with stained glass windows and meeting room.  Zoning R8, Exempt Commercial per SDAT.  Deposit $20,000.


      409 N. Patterson Park Avenue - rectangular lot, 14' x 80', more or less.  According to public tax records, the property is improved by a circa 1880 two story brick townhome, containing 1,260 square feet of gross living area, and is used as a day care center.  Zoning R8, Exempt Commercial per SDAT. Deposit $2,500.


      2306 Orleans Street - rectangular lot, 60' x 75', more or less.  The property is fully fenced and currently used as a playground.  Zoning B-3-2, commercial.  Deposit $2,500.


      BLOCK PLAT (pdf)


      MANNER OF SALE: Each property will be offered individually and the bid reserved.  Then all three properties will be offered as an entirety and sold in the manner producing the greater amount.


      TERMS OF SALE: Deposits as stated above or $25,000 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.  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 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.  If settlement is delayed for any reason, there will be no abatement of interest.  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 properties 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, 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.


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David H. Cohen and/or Geoffrey L. Forman
and/or W. Scott Tinney, IV, Trustees