BACK ON MARKET: +/-17,656 sf Freestanding Former Bank Bldg

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

31 Tuesday
March 31st, 2020 11:00 AM

BACK ON MARKET: +/-17,656 sf Freestanding Former Bank Bldg

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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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 A: 1518 Hull Street, Richmond, VA

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

+/-17,656 S/F, Freestanding Former Bank Building 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
  • Historic tax credit eligible (See Department of Historic Resources and National Park Service docs in PIP)
  • Less than a mile from the Pamunkey Indian Tribe’s proposed $350 million resort/casino
  • Permit-ready building plans convey with purchase
  • Plans call for 14 apartments plus ground floor commercial space
  • 17,656+/- Square Foot building
  • Built in 1930
  • Signalized intersection
  • Reports: Asbestos Survey and Lead Based Paint Survey also convey


Recent Articles on Manchester Area:


Auction Order of Sale:

  1. 11:00am: Offering A - 1518 Hull Street (this listing)
  2. 11:45am: Offering B - 6, 8, 10 and 12East 16th Street, which you can view at www.tranzon.com/FX1949B
  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

Parcel ID#: S000-0195-001
2019 Tax Assess: $439,000
2019 Annual Taxes: $5,268

Please Note: Permit-Ready Building Plans, Asbestos Survey Report and Lead Based Paint Survey Report are available as separate downloads at the links in the Documents section above.

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.

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