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\n\u201cIt\u2019s important to know,\u201d stated Maltz Auction\u2019s CEO, Richard Maltz, \u201cthat at this auction, the minimum bids for unrestricted medallions are from $130,000 and will be sold free and clear of all monetary liens.\u201d<\/p>\n
CENTRAL ISLIP, N.Y., July 3, 2019 (SEND2PRESS NEWSWIRE) — Maltz Auctions, a premier full-service auction company serving the New York Metropolitan region, announced it will auction sixteen New York City taxi medallions, of which fourteen are individual and one is a mini-fleet pair, at the NY LaGuardia Airport Marriott Hotel, on Thursday, July 11, 2019 at 11 a.m. with registration commencing at 9:30 a.m.<\/p>\n
\n\u201cIt\u2019s important to know,\u201d stated Maltz Auction\u2019s CEO, Richard Maltz, \u201cthat at this auction, the minimum bids for unrestricted medallions are from $130,000 and will be sold free and clear of all monetary liens.\u201d<\/p>\n
\u201cIndividual taxi medallions are one of two main classes of yellow taxi licenses issued by the city,\u201d Maltz added. \u201cThere are restrictions on ownership whereby no person can own an interest in more than one and owners of each medallion are generally required to personally operate the taxi at least 180 days a year. The other class, corporate or \u2018mini-fleet\u2019 medallions, which are sold in pairs, may be owned in fleets by nondriver owners.\u201d<\/p>\n
Additional Details:<\/strong><\/p>\n Auction Date & Time:<\/strong>\u00a0Thursday, July 11, 2019 at 11 a.m. (Registration commences at 9:30 a.m.).<\/p>\n Auction Location:<\/strong>\u00a0New York LaGuardia Airport Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369.<\/p>\n Terms & Conditions of Sale:<\/strong>\u00a0Sold free and clear of all liens pursuant to Article 9 of the Uniform Commercial Code and the Medallions, will be transferred free and clear of the obligations relating the Taxi Improvement Fund and MTA Tax on the transfer of the Medallions comprising the collateral by the TLC (collectively, the \u201cLiens\u201d).\u00a0In order to register to bid, all prospective bidders must present a\u00a0bank check<\/strong>\u00a0in the amount of\u00a0$20,000\/Medallion\u00a0<\/strong>made payable to \u201cAspire Federal Credit Union\u201d. Please download the Notice of Sale and complete Terms & Conditions of Sale.<\/p>\n Buyer\u2019s Premium:\u00a0<\/strong>A Buyer\u2019s Premium of six (6%) percent of the highest bid will be added to the Successful Bidder\u2019s high bid to determine the contract price to be paid by the Successful Bidder.<\/p>\n Buyer Broker Participation:<\/strong>\u00a0A two (2%) percent commission may be paid to any properly licensed New York City Medallion Broker who registers a successful buyer in accordance with the Buyer Broker guidelines. Please download the Broker Participation form for details.<\/p>\n Richard B. Maltz, Auctioneer DCA# 1240836 Auction details: http:\/\/www.maltzauctions.com\/auction\/353078\/16-nyc-taxi-medallions\/<\/a><\/p>\n By delivering their respective Offers, Bids and\/or Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Assets, the state of title thereof and laws, rules and regulations applicable thereto, and will rely solely thereon and on their own independent investigations and inspections of the Assets in making their bids.\u00a0Neither Maltz, the Secured Party nor any of their collective representatives makes any representations or warrantees with respect to the permissible uses, quantity or condition of the Assets. All Bidders acknowledge that they have conducted their own due diligence in connection with the Real Property and are not relying on any information provided by Maltz, the Secured Party, or their professionals.<\/p>\n The information contained herein was derived from sources deemed reliable but is not guaranteed. Most of the information provided has been obtained from third party sources and has not been independently verified. It is the responsibility of the Buyer to determine the accuracy of all components of the sale and Assets. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Assets, including without limitation physical attributes of the Assets.<\/p>\n All prospective bidders are\u00a0urged\u00a0to conduct their own due diligence prior to submitting an offer or bid. Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.<\/p>\n Learn more at: http:\/\/www.maltzauctions.com\/<\/a><\/p>\n Follow Maltz Auctions on social media at:\n
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\nDavid A. Constantino, Auctioneer DCA# 1424944
\nRichard B. Maltz, Licensed Real Estate Broker
\nPhone (516) 349-7022\u00a0Fax (516) 349-0105<\/p>\n
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