BACK ON MARKET: 4 Parcel Multifam Dev Assemblage, Manchester

Real Estate Auction in The Westin Richmond, Richmond Virginia, United States

31 Tuesday
March 31st, 2020 11:45 AM

BACK ON MARKET: 4 Parcel Multifam Dev Assemblage, Manchester

Real Estate Auction in The Westin Richmond, Richmond Virginia, United States

Tuesday at - 31st March , 2020

Notes

Buyers premium: 10% Buyers Premium based on the high bid.
Closing: 45-Day closing, sold in As-Is condition, no contingencies.
Deposit Amount: 10% deposit due within 2 business days of being notified that you are the successful high bidder.
Broker Coop: 2% of the high bid will be paid to a properly registered broker at settlement.

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Location has been calculated by address and may not be 100% accurate.




Auction Items For Sale

ATTENTION PROSPECTIVE BIDDER: Due to the Coronavirus threat, this is now a timed, ONLINE ONLY auction. There will be NO live ballroom auction for these properties. Please see bidder registration instructions at the bottom of this description for more information.

This property is from the Hild Manchester Real Estate Portfolio. The sale of this property by auction has received all required approvals, including any approvals required pursuant to the Restraining Order issued by the United States District Court for the Southern District of New York on August 28, 2019 in United States v. Hild, Case No. 1:19-cr-00602.

Offering B: 6, 8, 10 and 12 East 16th Street, Richmond, VA

This offering consists of the four parcels at 6, 8, 10 and 12 East 16th St ONLY. It DOES NOT include the building at 1518 Hull St.

Four Parcel Multifamily Development Assemblage: 5 Stories by Right, in the Heart of Manchester

  • Recently up-zoned to B-5 which all but eliminates off street parking requirements and allows up to 5 stories of new construction
  • Located in Opportunity Zone
  • Less than a mile from the Pamunkey Indian Tribe’s proposed $350 million resort/casino
  • Currently has +/- 40 Parking Spaces
  • Signalized intersection
  • Conceptual drawings of potential new construction showing 55 residential units convey with purchase


Recent Articles on Manchester Area:


Auction Order of Sale:

  1. 11:00am: Offering A - 1518 Hull Street, which you can view at www.tranzon.com/FX1949A
  2. 11:45am: Offering B - 6, 8, 10 and 12East 16th Street (this listing)
  3. 2:00pm: Offering C - 1518 Hull St and 6, 8, 10 and 12 East 16th Street Combined, which you can view at www.tranzon.com/FX1949C


No winning bids will be awarded until all three auctions are concluded.

Zoning Map: https://www.arcgis.com/apps/webappviewer/index.html?id=cf5282d10b6f40fcb361cde85dcc6fe4

Opportunity Zone Map: http://vedp.maps.arcgis.com/apps/webappviewer/index.html?id=bf7c530d8e0240c6a911a4b40fb0a357
 

Address Parcel ID# 2019 Tax Assess    2019 Annual Taxes 6 East 16th Street S000-0195-031 $49,000 $588 8 East 16th Street S000-0195-030 $52,000 $624 10 East 16th Street S000-0195-029 $51,000 $612 12 East 16th Street    S000-0195-027    $75,000 $900     $227,000 total $2,724 total


In order to register to bid online:

  1. Go to an individual property listing page via the links in the description above.
  2. Click the LOG IN / REGISTER TO BID button in the blue box above description.
  3. If you already have a Tranzon account but are not signed in, log in with your email address and password. If not, select the “Sign Up” link at the top of the window. On the following page, completely fill in the required fields and select the green SUBSCRIBE button at the bottom.
  4. Once logged in, after selecting the REGISTER TO BID button in the blue box on the property listing, Step 1 of the bidder registration is to verify or change your information, check the box to certify you are 18 years of age or older and click the CONTINUE button.
  5. Step 2: Read the Terms & Conditions and then check the box acknowledging you have read and understood the terms. Digitally sign your name in the box at the bottom and click the AGREE AND CONTINUE button.
  6. Step 3: Enter your credit card information. This area of the site is secure. Completely fill in the required fields, verify all information is correct and click the CONTINUE button.
  7. You may register at any time until the date bidding closes, but we recommend not waiting until the last day in the event you experience technical difficulties. You are only required to register once. Registering for any FX1946 or FX1949 offering allows you to bid on all of these nine offerings.



Please be sure to download the Property Information Package by clicking on the words under “Documents to Download.” By downloading this package you will alert Tranzon Fox to your interest in this property and you will receive emails with any updates on this auction. The package contains information needed to participate in bidding at auction.