Lakeside lots up for auction

Posted 8/21/12

PARKSVILLE, NY — In what is being called a “developer liquidation auction,” 10 lakefront lots in The Legends at Tanzman Lake development will be on the auction block on July 19, in the gated …

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Lakeside lots up for auction

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PARKSVILLE, NY — In what is being called a “developer liquidation auction,” 10 lakefront lots in The Legends at Tanzman Lake development will be on the auction block on July 19, in the gated community at 245 Tanzman Rd. in Parksville. An open house is scheduled for Sunday, July 12 from 2 to 5 p.m.

Information provided by the auctioneer, Maltz Auctions, says the lots to be sold are situated in a 240-acre subdivision, surrounding a 37-acre lake, with deeded access. The lake is restricted to boats without motors.

Information on the development website says that paving in the development was completed this year, and “Construction has already been completed on four lake access sites and a new fifth home has just been completed.” Some 16 of the 37 parcels have already been sold.

Five on-the-lake lots and five off-lake lots will be auctioned. The press release says, “The first two ‘Buyer’s Choice’ lakefront and off-lake lots will ‘sell absolute’ to the highest bidders regardless of price. [After that] lakefront lots are offered with opening bids starting at $65,000, 80% off previous asking prices of $329,000 to $449,000. Off-lake lots are offered with opening bids starting at $40,000, 80% off previous asking prices of $274,000 to $299,000.”

Real estate taxes run from $1,100 to $2,400, but will increase substantially when and if a house is built on a lot. Starting in December of this year there will be common charges of $670 per year.

Richard Maltz, president of the auction company, referred to the coming Montreign Resort in the press release. He said, “This is a rare opportunity, since we know substantial development will be taking place just 25 minutes away, and The Legends on Tanzman Lake is the only gated subdivision in Sullivan County with a homeowners’ association that includes an entire private lake.” He added, “We anticipate that this will be a lively auction, because with each round of bidding the successful bidder will choose their favorite lot from the remaining inventory.”

To register to bid, prospective bidders must present a cashier’s check in the amount of $10,000 for each off-lake or $15,000 for each lakefront lot respectively.

Visit www.maltzauctions.com for more information.

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