Foreclosure Sale of Real Estate – Investment/Development Opportunity
Foreclosure Sale of Real Estate - Investment/Development Opportunity
FORECLOSURE SALE OF REAL ESTATE
Foreclosure Sale of Real Estate
40 Mount Hood Road
Please click here to download the Bidder's Packet.
Fee-simple interest in the former Hotel Boston, centrally located in Boston, MA. Building is offered unencumbered of brand, debt, and management.
- Lot Size (Acres): 1.73
- Building Size (Sq. Ft.): 55,000
- Zoning: Historic District: Multifamily Residential 1 (MFR-1) AberdeenArchitectural Conservation District
- Year Built: 1953, 1963
- Renovated: 2004
- Current configuration: 68 guestrooms, 6 king suites, 93 parking spaces.
- Kitchen and dining room
- Large Project Review complete and zoning relief approved to redevelop site with 164,340 square-foot, six-story residential building with 145 condominiumunits (of which 24 must be inclusionary affordable housing) and 206 off-street parking spaces. Per private agreements, abutters would have the use of 59 parking spaces.
Detailed Description:Ideally located along one of Boston’s most historic streets, Commonwealth Avenue, 40 Mount Hood is conveniently situated near various dining and shopping destinations and other local area amenities such as the Chestnut Hill Reservoir and Cleveland Circle. Only a fifteen-minute drive from Harvard University and Fenway Park, 1.6 miles from Boston University and 3.2 miles from Northeastern University. Golfing, hiking, shopping, and much more in the immediate area. An excellent opportunity to renovate or build brand new construction to take advantage of a highly trafficked and desirable area.
40 Mount Hood
2022 Total Assessed Value $5,661,225.00
2022 Taxes $144,285.00
6 Egremont Road
2023 Total Assessed Value $4,868,819.00
Terms of Sale: A deposit of $1,000,000.00 is required by certified check or bank cashiers check at the time of sale. Deposit must be increased to 10% of purchase price within five (5) business days of sale. The balance is due by wire transfer, certified check or bank cashier’s check. 5% Buyer's Premium. Closing on the property must be within thirty (30) days of the date of sale. Other terms to be announced at the time of sale.
Sale per order of Peter Royer of Halloran & Sage, attorney for Mortgagee
View Catalog & Register to Bid Online
CRG is not responsible for packaging or shipping. The Buyer must make their own arrangements.
Available Shipper / Rigger
Registering as a BidderWhen you arrive at an auction site, you must register as a bidder. At registration, we'll ask you to inform us as to how you plan to pay for your items. Please keep in mind that once you are a successful bidder, you are required to maintain a 25% deposit in cash, certified or bank check. Personal or company checks are only accepted with a letter from your bank guaranteeing your check. If you are bidding via the Internet or absentee bid you must register and submit your deposit within 24 hours prior to the auction.
How to BidBidding at an auction is simple. The auctioneer will announce and describe each item before he asks for bids. During the entire bidding process, the auctioneer will speak loudly and clearly. Bids may be taken from bidders on-site, via the Internet, or by absentee-bid. On-Site - You'll make bids by using the bid card which you obtain when you register. When you want to bid on an item, you may raise your card so the auctioneer will see it. Keep in mind that if you are the successful bidder, a representative of Capital Recovery will approach you to make a deposit. You must tender the deposit in acceptable form at that time. Internet - If you wish to participate in live interactive bidding, please visit the catalog page and click on the link. You may be asked to fax in a credit card authorization form. Absentee - We will assign a representative of our firm to make bids for you. When you leave an absentee bid for the auction, you need to complete a form (click here for form) that lists the items you want to bid on and the maximum amount you will bid for each item. We will not bid over the authorized amount and only bid as high as the competitive bidding reaches. We will notify you of the outcome of the bids and return any deposits made within 72 hours. Quantity - Please note that when there is a quantity for a certain lot, and you are bidding on that lot, it is quantity X price. So if there is qty of 5 for Lot 100 and it sells for $100, your bill will reflect $500.
Proxy BiddingPlease call our office to put your proxy bidding in (800-300-6852). You will need to know the Lot# and your top bid for the item. We will also need to secure a 25% deposit from you before the auction begins.
Inspecting the MerchandiseBefore the bidding process starts you'll have an opportunity to inspect each lot. Our staff will be available if you have any questions. All items sold at an auction are sold "as is" and "with all faults" so it's your responsibility to know what you are buying. Some auctions will have digital pictures available for each lot. This is especially valuable if you want to bid on merchandise via the Internet or by proxy and cannot personally inspect the item(s) prior to sale.
Deposits & Final PaymentsYou may make deposits and final payments only in cash, by cashier's check, by wire transfer, or with a personal or company check accompanied by a bank letter of guarantee (see above on right hand side). A letter of guarantee ensures us that your bank will guarantee your personal or company check up to specified amount. This is the most convenient way to make deposits and final payments. Sales tax for the state in which the auction is held will be applied unless the items or purchaser are exempt. The burden of proof for exemptions is on the buyer. All sales taxes will be collected unless the buyer fills out the proper documentation.
Picking Up Your PurchaseWhen you've finished bidding, return to the registration office to complete your final payment. You must make payment in full to receive a bill of sale. You may pick-up your items only after the auction has been completed and when accompanied by your paid bill of sale. Remember all items must be removed within announced specified time. If your items require special handling or rigging, our staff can help you make arrangements. Should you have any more questions please call our office or consult with our staff at the sale site. We want to make your auction experience both enjoyable and financially rewarding. We appreciate your patronage and attendance and wish you good luck.
If you are a winning bidder on the internet, it is your responsibility to get any tax exemption information to us hopefully prior to invoicing. You can fax your state's exemption certificate to (860) 623-9160. Please note name of auction on it.
Please note all items must be paid for within 24 hours of receiving your invoice.
Terms and Conditions
TERMS AND CONDITIONS WILL BE POSTED SOON
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