00104669 —

Aug 25-9:10
Listing Began:

Description

Seller's Comments and Description:

NOTICE OF TRUSTEES' SALE

1421 PRINCE STREET

ALEXANDRIA, VIRGINIA 22314

In execution of a Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing dated June 15, 2020, in the original amount of $11,490,000.00, recorded as Instrument Number 200010089 in the Clerk's Office of the Circuit Court of the City of Alexandria, Virginia, default having been made in the payment of the debt therein secured, and being instructed to do so by the party secured by the Deed of Trust (the “Noteholder”), the undersigned Substitute Trustees, any of whom may act, will on September 10, 2026, at 11:00 a.m., by the front main outside entrance to the City of Alexandria Circuit Court, 520 King Street, Alexandria, Virginia 22314, offer for sale at public auction to the highest bidder the real property (“Property”) with improvements thereon:

All that certain lot or parcel of land together with all improvements thereon located and being in the City of Alexandria, Virginia and being more particularly described as follows:

Beginning at a point marking the intersection of the northerly right-of-way line of Prince Street (variable width) and the easterly right-of-way line of South Peyton Street (66' wide);

Thence running with South Peyton Street North 32 degrees 51' 36" East 171.22 feet to a point marking the southwesterly corner of City of Alexandria Tax Map Parcel 73.02-05-02 (the land of John and Mary Yaglenski);

Thence departing said South Peyton Street and running with the southerly and easterly lines of said Yaglenski and continuing with the easterly line of City of Alexandria Tax Map parcel 73.02-05-01 (the land of John and Mary Yaglenski) the following 4 courses and distances:

South 58 degrees 54' 24" East, 83.00 feet;

North 50 degrees 23' 06" East, 2.50 feet;

South 58 degrees 54' 24" East, 6.23 feet;

North 09 degrees 30' 36" East, 50.32 feet to a point marking the southwesterly corner of City of Alexandria Tax Map Parcel 64.03-12-01 (the land of National Society of Professional Engineers);

Thence running with the southerly line of said National Society of Professional Engineers South 80 degrees 29' 24" East, 123.42 feet to a point lying in the westerly line of City of Alexandria Tax Map Parcel 74.01-01-17.01 (the land of Meushaw Development Co., Inc.); thence running with the westerly line of said Meushaw and continuing with the westerly terminus of a 12.58 foot

alley and the westerly line of City of Alexandria Tax Map Parcel 74.01-01-05.01 (the land of Meushaw Development Co., Inc.) South 09 degrees 30' 36" West, 176.58 feet to a point lying in the aforementioned northerly right-of-way line of Prince Street (variable width);

Thence running with said Prince Street North 80 degrees 29' 24" West, 275.89 feet to the point of beginning, and containing 39,029 square feet or 0.8960 acre, more or less.

Tax Map No. 073.02-04-04

The personal property and non-real estate rights and interests to be offered for sale by the Substitute Trustees consist of all forms of personal property located upon or related to the Property and owned by the owner of the Property, as more particularly described in the Deed of Trust. No representations or warranties are made as to the existence or condition of any such items, it being the sole responsibility of the purchaser to make such determination. The Substitute Trustees reserve the right to exclude certain personal property from inclusion in the foreclosure sale of the Property. Such excluded items will be announced at the time of the sale.

This sale is subject to the rights, if any, of tenants under unrecorded leases.

A deposit in the form of a cashier’s check of $750,000.00 will be required of all bidders at the time of sale, except from a bidder on behalf of the Noteholder or its subsidiary or affiliate. The Noteholder or any subsidiary or affiliate thereof may apply the outstanding amount of the debt under the Note as a credit to its bid. This deposit will be adjusted at the time of the sale to reflect ten percent (10%) of the final bid.

The deposit, without interest, is applied to the purchase price at settlement. Settlement will be held on or before fourteen (14) days after sale, time being of the essence. Upon purchaser’s default, the deposit shall be forfeited and the Property shall be resold at the risk and costs of the defaulting purchaser. After any such default and forfeiture, the Property and any and all personal property applicable thereto may, at the discretion of the Substitute Trustees, be conveyed to the next highest bidder on the Property whose bid was acceptable to the Substitute Trustees.

The Property and all personal property applicable thereto shall be sold “AS IS” and “WITH ALL FAULTS.” Neither the Substitute Trustees nor the Noteholder, nor their respective agents, successors, and assigns, make any representations or warranties with respect to the Property including, without limitation, representations or warranties as to the structural integrity, physical condition, construction, workmanship, materials, habitability, compliance with applicable zoning regulations, fitness for a particular purpose or merchantability of all or any part of the Property or personal property applicable thereto. The purchaser recognizes and agrees that any investigation, examination, or inspection of the Property and personal property applicable thereto being sold is within the control of the owner or other parties in possession and their agents and not within the control of the Substitute Trustees, the Noteholder, or their agents, successors or assigns.

Conveyance of the Property shall be with special warranty and shall be subject to all existing housing, building, zoning and other code violations, if any, subject to all critical area and wetland violations, if any, subject to all environmental problems and violations which may exist on or with respect to the Property, if any, and shall be subject to all recorded and unrecorded liens, encumbrances, security interests, easements, rights-of-way, covenants, agreements, conditions, restrictions, leases, occupancy agreements and mechanics and materialmen’s liens, to the extent any of the foregoing may lawfully apply to the Property being sold, or any part thereof, and take priority over the liens and security interests of the Deed of Trust.

Without limiting the generality of the foregoing, the Property will be sold without representation or warranty as to the environmental condition of the Property or the compliance of the Property with federal, state, or local laws and regulations concerning the purchase or disposal of hazardous substances. Acceptance of the deed to the Property shall constitute a waiver of any claims against the Substitute Trustees, the Noteholder, and their respective agents, successors, and assigns, concerning the environmental condition of the Property including, but not limited to, claims arising under the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, and/or state or local law, ordinances or regulations. The purchaser shall be required to sign a sale memorandum waiving any cause of action it may have against the Substitute Trustees or the Noteholder, and their respective agents, successors and assigns, for any condition of the Property that may not comply with any federal, state or local law, regulation or ruling including, without limitation, any laws, regulations and rulings relating to environmental contamination or hazardous wastes. Such agreement shall also provide that if, notwithstanding such agreement, a court of competent jurisdiction should permit such a claim to be made against the Substitute Trustees and/or the Noteholder, or their respective agents, successors and assigns, such agreement shall serve as the overwhelming primary factor in any equitable apportionment of response costs or other liability. Nothing in this paragraph shall release, waive or preclude any claims the purchaser may have against any person in possession or control of the Property.

Risk of loss or damage to the Property and personal property applicable thereto shall be borne by the purchaser from and after the strike down of the bid at the foreclosure sale. The purchaser shall pay all closing costs, including the preparation of the Trustees Deed and all taxes and recording costs assessed thereon including, but not limited to, the grantor’s tax, regional WMATA capital fee and congestion relief fee, if applicable, settlement fees, title examination charges and title insurance premiums. Real estate taxes prorated to the date prior to the foreclosure will be paid by the Substitute Trustees. Purchaser shall be responsible for all real estate taxes due on the Property from and after the date of the sale. The Substitute Trustees will not deliver possession of all or any part of the Property being sold.

The Substitute Trustees reserve the right to amend or supplement the terms of sale by verbal announcements during the sale, to modify the requirements for bidders’ deposits, to reject any and all bids, to withdraw all or part of the Property from the sale prior to the commencement of bidding, to postpone the sale, and to conduct such other sales as the Substitute Trustees may determine in their sole discretion.

At the time of sale, the successful bidder shall be required to execute a memorandum of sale which shall include, by reference, all the terms and conditions contained herein.

The form of Memorandum of Sale is available from the Substitute Trustee upon request and will be available at sale time.

Immediately upon delivery of the deed for the property by the Substitute Trustees, all duties, liabilities, and obligations of the Substitute Trustees, if any, to the purchaser with respect to the Property shall be extinguished.

Jeremy B. Root

Wendy E. Cousler

For Information contact:

Jeremy B. Root

BLANKINGSHIP & KEITH, PC

4020 University Drive #300

Fairfax, Virginia 22030

(703) 691-1235

(Advertise: August 24, 25, 26, 27 and 28, 2026) AD#104669





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