The Real Deal New York

Fish sellers’ three Brooklyn properties hit auction block with $5.8M price drop

June 01, 2011 04:16PM

Nearly 35,000 square feet of Brooklyn land will hit the auction block June 16, with a combined suggested opening bid of just $700,000, Crain’s reported. The three properties are within steps of each other in Brownsville, and all belong to M. Slavin & Sons, a 100-year-old fish seller that filed for Chapter 11 bankruptcy in February. Citing lost business over the last two years, the vendor put 31-39 Belmont Avenue, 447 Rockaway Avenue and 97-99 Thatford Avenue on the market for $6.5 million, before eventually seeking bankruptcy protection. The Belmont Avenue property spans 7,500 square feet with an 8,000-square-foot building. A 10,000-square-foot building sits on 17,000 square feet of land at the Rockaway Avenue address, and the final parcel is currently a 10,000-square-foot parking lot. David R. Maltz & Co. is handling the auction, and reportedly expects the properties to sell as retail space to an investment firm. [Crain’s]

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