THE CASEY GROUP, LTD.
222 Bosley Avenue, Suite B-3
Towson, MD 21204
To The Highest Bidder over $25,000
“Gay Street National Historic District”
3 – STOREFRONT BUILDINGS
14,000 S.F. ◆ Zoned C-1
Sale On Premises
343 N. GAY STREET
f/k/a 339-341 & 343-345 N. Gay Street
And 318 N. Exeter Street
Baltimore, MD 21202
FRIDAY, DECEMBER 3, 2021
AT 11:00 A.M.
Bidder Pre-Qualification Is Required
By November 29, 2021 – See Below
Pursuant to the Order Appointing a Vacant Building Receiver, of the District Court of Maryland for Baltimore City, passed in the matter of Mayor and City Council of Baltimore acting by and through the Baltimore City Department of Housing and Community Development, Petitioner v. Pan Am Suites Baltimore Inner Harbor, LLC, Respondent, Case No. 06600-21, the undersigned Receiver, acting in its capacity as a court appointed trustee, 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, Maryland and being more fully described in the Deed to the above Respondent, dated December 18, 2015 and recorded among the Land Records of Baltimore City, Maryland in Book LGA 17856, Page 0410, which metes and bounds descriptions are described in a Ground Rent Redemption Deed, dated January 8, 2013, recorded among the Land Records aforesaid in Book FMC 14917, Page 0269, comprising 339, 341, 343 and 345 N. Gay Street and 318 N. Exeter Street, all of the above now being known as 343 N. GAY STREET, BALTIMORE, MD 21202.
The property fronts approximately 75′ along N. Gay Street by a depth of 100′ and approximately 24.75′ along N. Exeter Street by a depth of 85′, comprising approximately 9,454 square feet according to public tax records. According to tax records, the property is located in a C-1, commercial zoning district and the buildings comprise 14,000 square feet of gross building area.
339-341 N. Gay Street comprises two, three-story, inside-group, brick storefront buildings.
343-345 N. Gay Street comprises a four-story, inside-group, brick storefront building.
318 N. Exeter Street is a three-story, end-of-group, brick storefront building.
All buildings are vacant, boarded and need complete renovation. Historic tax credits and other incentives may be available.
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.
IMPORTANT – THE PROPERTY IS BEING SOLD SUBJECT TO VACANT BUILDING NOTICE(S) (“VBN”) BY THE CITY OF BALTIMORE. THE PURCHASER SHALL BE REQUIRED TO REHABILITATE THE PROPERTY ACCORDING TO THE ORDER(S) UNDER THAT VBN.
TERMS OF SALE
A $25,000 deposit, payable by 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 by 11:00 A.M., Monday, December 6, 2021, at the Auctioneer’s Office. Balance to be paid in cash at settlement, which shall take place ten (10) days following final ratification of the sale by the District Court of Maryland for Baltimore City at a location designated by the Receiver. Interest on unpaid purchase money charged at the rate of 8% per annum from the date of final ratification of sale to the date of settlement. All recordation taxes, transfer taxes, and other costs incident to the sale and settlement shall be borne by purchaser. Purchaser’s adjustments for governmental taxes, municipal charges or assessments, shall be as of the date of contract. The Receiver may, in its sole and absolute discretion, extend or adjust the date of settlement as may be required; however, in the event of delay due to purchaser (as determined by Receiver), the purchaser’s adjustments shall be as of the contract date originally provided in the contract of sale. The Receiver, in its sole and absolute discretion, may reduce the amount of purchaser’s interest or adjustments due to extension of the settlement date. Time is of the essence for purchaser’s obligations. If Receiver is unable to deliver good and marketable title, 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 Receiver or Auctioneers. If purchaser breaches the contract of sale, the Receiver may elect to retain the deposit as liquidated damages.
The property is being sold and purchaser agrees to accept the property “AS IS”, “WHERE IS”, and “WITH ALL FAULTS,” without any representation or warranty whatsoever as to its condition, environmental matters, permit status, construction, faulty construction or damage to improvements, violation of laws, fitness for any particular purpose, development, merchantability, occupancy or any other warranty or matter of any nature whatsoever, express or implied, all whether known or unknown and whether disclosed or undisclosed. The purchaser waives and releases the Receiver, 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. 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 contract forward.
The property is sold subject to all easements, conditions, restrictions, covenants, ground rents, agreements and other matters of any nature identified in this Advertisement, or appearing in any public records on or before the date of sale or announced at the Public Auction, as well as any matters that an accurate survey or physical inspection of the property might disclose. The ground rent or fee simple title stated for the property is as determined from sources deemed to be reliable, and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Any ground rent determined to be on the property, including the redemption thereof, is the sole responsibility of the purchaser, irrespective of whether that ground rent is stated within the advertisement or contract of sale. The property will be conveyed by Receiver’s Deed without warranties. The property is sold subject to all matters referenced in the vacant building receivership proceeding pending in the District Court of Maryland for Baltimore City, including, but not limited to exceptions to sale and all housing, building and zoning code violations.
Due to the nature of the Receivership action and the Order of the District Court of Maryland for Baltimore City, purchaser shall not assign the contract of sale without prior, written permission of the Receiver, which may be withheld in Receiver’s sole and absolute discretion.
ALL BIDDERS MUST APPLY TO PRE-QUALIFY WITH THE CASEY GROUP BY NOVEMBER 29, 2021. Please see: Bidder Qualification Application Form. Bidders who are not pre-qualified SHALL NOT be allowed to participate in this auction; NO EXCEPTIONS.
The Casey Group, Ltd., Receiver
No Buyer’s Premium