CENTRAL ISLIP, N.Y., July 10, 2014 (GLOBE NEWSWIRE) -- David R. Maltz & Co., Inc., a premier full-service auction company serving the New York metropolitan region, announced today that it will auction a spectacular 40,000-square-foot waterfront lot on which sits a seven-bedroom, 2.5 bath home. This exquisite property rests on a half-peninsula, boasts 395-foot frontage on Manhasset Bay and affords the opportunity to build an up to 8,000 sq ft home. The live off-site pre-foreclosure auction is scheduled for Wednesday, July 23, 2014, at 7 p.m. at the Inn at Great Neck, 30 Cutter Mill Rd, Great Neck, New York.

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=26419

The property features a 400-foot driveway that leads up to a 3,700-square-foot contemporary home, which boasts an additional 20,000 square feet of usable shoreline. With its 14-foot elevation, the home bore no flooding during Hurricane Sandy. The property is surrounded by multi-million dollar new construction and within distance to various houses of worship.

"It is very rare for such a highly desirable waterfront property like this Kings Point half-peninsula to be sold at auction. The upcoming auction presents a wonderful opportunity for a bidder who wants to renovate as a vacation home or rebuild a large home to be in character with many surrounding properties ," said Richard Maltz, the company's vice president.

The Kings Point estate is just one of many properties – including luxury and commercial, distressed and non-distressed real estate – auctioned by David R. Maltz & Co., Inc. In addition to real estate, David R. Maltz & Co., Inc.  specializes in personal and intellectual property auctions. The company also offers expertise in liquidations, appraisals, brokered sales and real estate brokerage.

"We are not only helping owners create liquidity from illiquid assets," stated President, David Maltz. "We are also enabling buyers to bid on homes, cars, jewelry – even heavy equipment – that they might not otherwise afford," said David R. Maltz.

To learn more about the Kings Point property, and about David R. Maltz & Co., Inc., including its twenty plus currently scheduled auctions, visit MaltzAuctions.com.

About David R. Maltz & Co., Inc.

David R. Maltz & Co., Inc. is a premier, full-service auction company specializing in creating liquidity through the auction method of marketing. Now a $100+ million company with an impeccable reputation for professionalism, integrity and success, David R. Maltz & Co., Inc. has conducted thousands of auctions on behalf of such clients as the U.S Bankruptcy Courts and financial institutions throughout the country, the U.S. Department of Justice, Internal Revenue Service, Small Business Administration, as well as law firms, private individuals and corporations, nationwide. The 35 year old firm is nationally recognized as a trusted name in excellence and achievement.