A — December 7 - 20, 2012 — Mid Atlantic Real Estate Journal www.marejournal.com M id A tlantic R eal E state J ournal A uctions

Property fetches extraordinary local interest Delaware City’s Central Hotel sells at Max Spann auction

Micoley.com lines up several winter auctions

To help move properties dur- ing the cold winter months, Micoley.com has lined up sev- eral auctions. December 15th and January 19th auction events feature combined, over 100 properties. These properties are expected to move quickly, making time of the essence for buyers who are looking for the best real estate deals around. Most importantly, with online auc- tions such as Micoley.com, properties are available to be purchased prior to the sale date. Properties in both sales include commercial, condo, mixed-use, residential, and vacant land. Online property auctions give buyers a chance to ex- plore a wide range of prop- erties within a very short amount of time, while still obtaining all the necessary information and conducting one’s due diligence. For commercial developers or investors, there are many types of properties available ranging from undeveloped

land zoned for commercial use; retail centers; big box stores; office parks; restaurants; com- mercial office buildings; and large warehouses. With online auction firms, buyers are able to search for properties across the entire nation, rather than seeking a local Real Estate agent in each city they may be interested in. Because of the excitement and fast-paced nature of on- line auctions, buyers may be tempted to act quickly. Buyers are always encour- aged to do their due diligence and thoroughly investigate their potential investment before going through with the purchase. Conducting one’s due diligence includes reading the contract in full; physically visiting the prop- erty or having a third party inspect it; obtain knowledge on the property’s local area and market. If the property is multi-family or rental prop- erty, acquiring rental history and vacancy reports is highly recommended. n


ELAWARE CITY, DE — A haunted piece of Delaware City his-

prospect of reestablishing retail activity along the waterfront as well.” The property, located at 85-93 Clinton St. in Delaware City, is listed on the National Register of Historic Places and was in- vestigated recently by a local paranormal research team. While some think the property is haunted, others remain skep- tical. Nevertheless, Dann said the property was available to any potential buyers, earthly or otherwise. “We looked for bids from other auras, but we couldn’t find them,” he joked. The property was sold by order of the city. Delaware City Council unanimously approved the sale immediately follow- ing the auction. Delaware city manager Richard Cathcart made a special announcement, thanking Glen McDonald , Max Spann’s regional business manager, for promoting and selling this property. The circa-1840, three-story,

hip-roof, Flemish bond brick building served a variety of uses over the years as Dela- ware City grew up around it. Located at the Delaware Bay entrance to the original Chesa- peake & Delaware Canal, it is a prominent attraction on the revitalized historic Delaware City waterfront. Also known as the Van Am- ringe building, it was built by Samuel Van Amringe to store grain. Interestingly, the upcom- ing auction isn’t the first time the building has been on the auction block. In 1834, the New Castle County took possession of the building, selling it at sheriff ’s auction for $2,500 to merchant Robert Polk. For the rest of the 19th Cen- tury, the building was used as a store and warehouse. Begin- ning at the turn of the Twen- tieth Century, it began its life as a hotel and tavern, first as The Central Hotel and later as Sterling’s Tavern. n

tory, recently the subject of paranormal i n v e s t i g a - tions, is now in the hands of a private buyer after a successful auc t i on by Max Spann Real Estate & Auction Co. The former Central Hotel on Delaware City’s waterfront sold for $473,000 following bids by six suitors. Bidding started at $150,000 and quickly rose to the final sale price. “That is the first haunted ho- tel I’ve ever sold in my life and probably the last,” said Bob Dann , executive vice president and chief operations officer of the firm, following the sale. “We know about the paranormal ac- tivity, but the buyers loved the Bob Dann

Mid Atlantic R eal E state J ournal N e w J e r s e y • P e n n s y lva n i a • D e l awa r e • M a ry l a n d • W a s h i n g t o n D . C . • V i r g i n i a • Auctioneers Directory NJ-PA-DE-NY-MD-VA DE, PA, NJ PA-MD-VA-W.VA

Richard G. Warner, President NJ & PA Licensed Real Estate Broker Warner Real Estate & Auction Co., Inc. 109 East Grant Street, Suite B Woodstown, NJ 08098 Ph: (856) 769-4111 ext 710 Website: www.WarnerRealtors.com

Residential, Commercial & Industrial Auction Specialists!


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