NYC Real Estate Public Auction - Auction Updates

January 11, 2017 Public Auction Parcel Update

Parcel #1


Auction Updates

Parcel No. 1 (2-2586-26)

The Property Is Being Sold Subject To The Following:

Pursuant to that Termination of Project Management Agreement and Release dated October 1, 2015 and recorded January 27, 2016 at CRFN 2016000027106, and in accordance with 13 CFR 314.10(e)(3), the grantee, its successors, and assigns hereby covenants and agrees that (i) the existing building on said Property will not be used for inherently religious activities in violation of applicable Federal law or in violation of nondiscrimination requirements set forth in 13 CFR 302.20, and (ii) the grantee, its successors, and assigns will include the restrictions set forth in subsection (i) in any deed or other instrument transferring ownership of the Property, and require each subsequent owner to include such restrictions in any subsequent deed or other instrument transferring ownership of the Property. This covenant shall run with the land, binding the grantee, its successors, and assigns and each subsequent owner of the Property for so long as such party holds title to the Property, until such time as the building on the Property as of the date hereof ceases to exist.

The property shall be burdened by the foregoing use restriction(s) notwithstanding any uses which may be permitted by the grant of a variance and/or notwithstanding any changes, modifications or amendments to be made at any future time by the City of New York to its Zoning Resolution.

Parcel No. 1 (2-2586-26)

Prospective Purchasers are advised that in addition to the lease and sublease documents for the existing tenant and subtenant that are available for review, outstanding tenant default notices (if any) will also be available for review. Prospective Purchasers can contact DCAS, 1 Centre Street, 20th Floor North, New York, NY 10007, (212) 386-0614 to schedule an appointment to review these documents.