Restored 1913 Event Space with Rented Apartment

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

17 Tuesday
December 17th, 2019 11:00 AM

Restored 1913 Event Space with Rented Apartment

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

Tuesday at - 17th December , 2019

Notes

Buyers premium: 10% Buyers Premium based on the high bid.
Closing: 45-Day closing, sold in As-Is condition, no contingencies.
Deposit Amount: Minimum deposit of $25,000 with 10% due within 2 business days. A $50,000 certified check entitles Bidder to purchase multiple properties.
Broker Coop: 2% of the high bid will be paid to a properly registered broker at settlement.

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Auction Items For Sale

This property is one of 10 commercial, residential & redevelopment offerings to be sold individually from the Hild Manchester Real Estate Portfolio Auction. The sale of the properties included in this 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.

Constructed in 1913 as the Mechanics & Merchants Bank, it is currently home to The Bankuet Place event space plus has a magnificent apartment in the rear. The building was Painstakingly renovated in 2005 to preserve its historic charm and original details - tall, coffered ceilings, scagliola marble columns, ornate plaster friezes - all of which are sure to elevate your function with a touch of elegance and glamour. The spacious +/-1,724 square foot apartment contains 2 bedrooms, 2.5 baths, a private office, 2nd floor balcony, off street parking and washer/dryer.

  • Located in Opportunity Zone
  • Income producing
  • +/-4,775 SF
  • Recently Upzoned to B-5 which all but eliminates off street parking requirements and allows up to 5 stories of new construction
  • 2019 Bankuet Place Income through October: $18,805.11
  • Fully-equipped commercial kitchen
  • The Apartment, aka 7 West 12th Street, is currently rented for $1,530/month


Parcel ID#: S000-0061-021
2019 Tax Assessment: $718,000
2019 Annual Taxes: $3,605

Note: The order of the properties listed is not indicative of the order in which the properties will be sold at auction. Order of sale will be determined closer to the event.


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.