Bankruptcy sale of A&G offering 19 properties in Maryland

A bankruptcy sale by A&G Real Estate Partners includes 21 properties – 19 in Maryland and one in Delaware and one in Florida – formerly owned by the late Zebulon J. and Beatrice Brodie, longtime prominent residents of Maryland’s east coast.

A residential and commercial developer and philanthropist, Zebulon J. Brodie founded South Shore Hospital in Miami and owned buildings, malls and other businesses on Maryland’s east coast, noted A&G Senior Managing Director Mike Matlat. .

Other properties available as part of A&G’s bankrupt sale of assets formerly owned by the late Zebulon and Beatrice Brodie include this 100% occupied retail and office building in downtown Chestertown.

This equestrian building is a key part of the waterfront family compound in Centreville. The 28.85 acre site also includes a 4 bedroom house, guest cottage, swimming pool and fenced equestrian grounds.

In total, there are nine revenue-generating sites available for purchase, including mixed-use, office, mall, stand-alone restaurant, warehouse/industrial, dance studio, and daycare, to name a few. to name a few; seven of the assets are located in Federal Opportunity Zones. Other assets include the aforementioned waterfront residential/equestrian complex and various undeveloped parcels zoned for commercial purposes.

All are located in cities along the eastern coast of Maryland, except for a small commercial building in Miami, Florida, and an undeveloped commercial parcel in Smyrna, Delaware.

A&G was retained to lead the asset sales by Baltimore-based trustee Zvi Guttman and his attorney, Shapiro Sher attorney Richard M. Goldberg. The assets are part of the Chapter 11 bankruptcy of Brodie Holdings LLC (Case No. 21-16309-TJC) and related entities filed in the United States Bankruptcy Court for the District of Maryland (Baltimore Division).

Highlights of the sale, in which any asset can be purchased individually, include:

  • Four contiguous properties ranging from 3.36 to 6.99 acres on Legion Road in Denton. Three of the sites are raw land zoned for retail/commercial; one is partially developed with an independent building occupied by Dunkin’. Totaling 21.07 acres, these properties are directly across from a Walmart Supercenter, as well as Denton Plaza, a mall anchored by national tenants Petco, Walgreens and Dollar Tree. “These four plots present an excellent opportunity for development from scratch in a busy shopping center,” noted Matlat.
  • The 100% occupied Alexander Building at 315 High Street in Chestertown. Located in the heart of downtown Chestertown, this 19,416 square foot red brick building accommodates both office and retail space. “This is an opportunity to add a stable income asset to your real estate portfolio,” said Todd Eyler, senior managing director of A&G.
  • The Carter Building at 300 Market Street in downtown Denton. Built in 1905, the 19,723-square-foot red-brick building features a mix of government and legal office users. “This is another income-generating downtown building that would be an attractive acquisition,” Eyler noted.
  • A family-friendly waterfront equestrian resort at 300 Bulle Rock Farm Lane in Centreville, Maryland. This picturesque 28.85 acre property sits on Grove Creek, which provides easy access to the Corsica River and beyond. Built in 1929, the main house has four bedrooms, 3.5 bathrooms as well as large rooms for entertaining, as well as a swimming pool and guest cottage. “The master bedroom offers a balcony that looks directly over the pool and stream to the river and sights beyond,” Matlat said. The property’s massive equestrian building looks more like a full-fledged equestrian center than just a barn, Matlat noted. “There is a very large indoor riding area with stalls and a viewing platform,” he said. “Other features include a large room with a fireplace, exposed rafters and antique woodwork, plus an old-fashioned parlor and split-level porch. The roof even has cupolas covered in copper. The property with its fenced equestrian grounds is part of the former estate of businessman and philanthropist John J. Raskob, builder of the Empire State Building. “This location is perfect for historic restoration and/or redevelopment, as illustrated by similar properties in this waterfront enclave,” Matlat said.

For more information on the properties, go to https://www.agrep.com/vente-immobilier

Comments are closed.