THE SALE HAS BEEN CANCELLED

**1% BROKER CO-OP**

SHAPIRO SHER GUINOT & SANDLER, P.A.

250 W. Pratt Street – Suite 2000

Baltimore, MD 21201

SUBSTITUTE TRUSTEE’S AUCTION SALE

OF

FIVE, THREE (3) UNIT MULTI-FAMILY

TOWNHOUSE STYLE BUILDINGS AND

20+/- ON SITE PARKING SPACES

Located at

1749-1759 W STREET, SE

Washington, DC 20020

            Under and by virtue of the power of sale contained in that certain Deed of Trust, Security Agreement, and Assignment of Leases and Rents dated February 26, 2008, from W Street SE 38-42-43 LLC and recorded with the Office of the Recorder of Deeds for the District of Columbia (the “Recorder of Deeds”) as Instrument No. 2008022390 (the “Deed of Trust”),  the holder of the indebtedness secured by the Deed of Trust having appointed Scott W. Foley (the “Substitute Trustee”), to act as Substitute Trustee by Deed of Appointment of Substitute Trustee dated July 26, 2022 and recorded among the Recorder of Deeds at Instrument No. 2022079537, a default having occurred in the payment of the indebtedness secured thereby and notice having been filed with the Recorder of Deeds in accordance with Public Law 90-566, and at the request of the party secured thereby (the “Secured Party”), the Substitute Trustee will offer for sale at public auction in the lobby of the Auctioneer’s office, located at 702 H Street, NW, Washington, DC 20001, on

WEDNESDAY, APRIL 19, 2023 at 12:00 P.M. (NOON)

ALL THAT fee-simple LOT OF GROUND AND THE IMPROVEMENTS THEREON being commonly known as 1749-1759 W Street SE, Washington DC 20020 and more fully described as follows:

Lots 38, 39, 40, 41, 42 and 43 in Square 5755 in a subdivision made by Greens of Block 2 of part of tract of land called “Chrichester”, as per plat recorded in Liber 6 at Folio 54 among the Land Records of the Office of the Surveyor of the District of Columbia.

(Each individually, a “Lot” and collectively, the “Lots”). The Substitute Trustee reserves the right to offer the Lots as an entirety, in groupings and/or individually.

UPON INFORMATION AND BELIEF, the Lots are contiguous, of which five (5) Lots are believed to be improved by three-story plus English basement townhouse style row structures originally constructed in 2011/2012 with three (3) dwelling units per townhouse (i.e., fifteen (15) total dwelling units), in a R-3 zoning district. The gross building area totals 20,760+/- sq. ft. with net rentable area of 18,100+/- sq. ft (3,620+/- sq. ft. per townhouse).

NOTE:  The information contained herein has been obtained from sources deemed reliable and is believed to be substantially accurate, but has not been independently verified by the Auctioneer, the Substitute Trustee or the Secured Party, and is offered for informational purposes only. The Auctioneer, the Substitute Trustee and Secured Party do not make any representations or warranties with respect to the accuracy of the information contained herein or in any of the information and materials made available to prospective purchasers and no express or implied warranties or representations may be inferred. Square footage contained herein is more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the Lots.

TERMS OF SALE:  A deposit of $50,000 in the form of a cashier’s check or other form acceptable to the Substitute Trustee at the time and place of sale will be required from the purchaser. The deposit must be increased to ten percent (10%) of the purchase price within two (2) business days following the sale and delivered to the office of the Substitute Trustee in the same form as the initial deposit. The deposit shall be placed in the trust account of the Substitute Trustee and shall not accrue interest. The Substitute Trustee will, as a condition to the sale, require all potential bidders to show their deposit before any bidding begins. If the Secured Party bids, it shall be entitled to debt bid and the Auctioneer shall be entitled to bid on behalf of the Secured Party. No deposit shall be required of the Secured Party. The balance of the purchase price, together with interest thereon at 8.89% per annum from the date of sale through the date of settlement, shall be due in cash or certified funds within thirty (30) days after the date of sale unless extended in writing at the sole and absolute discretion of the Substitute Trustee.  TIME IS OF THE ESSENCE. In the event settlement is delayed for any reason on any Lot, there shall be no abatement of interest caused by the delay on such Lot. If payment of the balance does not take place within thirty (30) days after the date of sale of any Lot (or such extended date as may be approved in writing by the Substitute Trustee as provided above), in addition to any other legal or equitable remedies available, the Substitute Trustee may declare the deposit forfeited, retain the deposit, resell such Lot at the risk and expense of the defaulting purchaser of such Lot, and avail themselves and the Secured Party of any legal and equitable rights against the defaulting purchaser. The defaulting purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of such Lot.

All taxes, ground rent, water rent, homeowner association charges, condominium fees, and all other public and private charges and assessments, including, without limitation, paving, sanitary and/or metropolitan district charges that are owed against each Lot shall be borne by the purchaser and paid for by the purchaser of such Lot at settlement.  In addition, the cost of all documentary stamps, transfer taxes, document preparation, title insurance, title examination costs, survey costs, and all other settlement expenses incidental to conveyance of each Lot shall be borne by the purchaser and paid for by the purchaser of such Lot at settlement.  In the event any of Lots are subject to a ground rent, the purchaser of such Lot agrees to the leasehold purchase subject to the ground rent with no adjustment in the purchase price. 

Each Lot is also sold subject to all encumbrances that are not extinguished by operation of law by the sale and subject to all easements, equitable servitudes, conditions, rights of way, restrictions, rights of redemption, covenants, declarations, and restrictions of record affecting such Lot not otherwise extinguished by the sale. Furthermore, each Lot is being sold subject to all nuisances, housing code violations, building code violations, zoning code violations, critical area and wetland violations, and environmental problems, conditions and hazards, whether latent or observable, which may exist on or with respect to such Lot. In addition, each Lot is being sold subject to such state of facts that an accurate survey or physical inspection of such Lot might disclose.

Each Lot will be sold “WHERE IS” in an “AS IS” condition and without any recourse, representations, or warranties, either express or implied, as to its nature, condition, value, use or description.  The purchaser of each Lot shall be responsible for obtaining physical possession of following conveyance of such Lot by the Substitute Trustee to the purchaser.  The purchaser of each Lot shall assume the risk of loss for such Lot immediately after the sale.

If the Substitute Trustee is unable to convey title to a particular Lot, the sole remedy at law or in equity for the purchaser thereof shall be limited to the refund of its deposit for such Lot, without interest thereon.  Upon refund of the deposit, the sale of such Lot shall be null and void and of no effect, and such purchaser shall have no further claims against the Substitute Trustee, the Secured Party or the Auctioneer.  The conveyance of each Lot by the Substitute Trustee to the purchaser(s) at settlement shall be by Trustee’s Deed(s) without covenant, warranty or representations whatsoever express or implied.

Until an offer is finally accepted by the Substitute Trustee, it is subject to higher and better offers.  The Substitute Trustee reserves the right in their sole discretion to reject any bids or withdraw any Lot or the Lots from sale at any time before the auctioneer announces that such Lot or the Lots is “sold” and the deposit in the required amount and form is accepted thereon by the Substitute Trustee.  The Substitute Trustee may adjourn and/or continue the sale on any Lot or the Lots at any time.  The parties’ respective rights and obligations regarding the terms of the sale and conduct of the sale shall be governed and interpreted under the laws of the District of Columbia. The Substitute Trustee reserves the right to modify or waive the requirements for bidders’ deposits and terms of sale/settlement. Further particulars may be announced at the time of sale. For additional information, go to www.melnicknewell.com and click on auctions or call Marie at (410) 366-5555.

No Buyers Premium

Scott W. Foley, Substitute Trustee

JONATHAN MELNICK AUCTIONEERS

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