The estate auction of ultimately 14 properties on Tuesday produced $5.83 million in winning bids, according to Queens Public Administrator Lois Rosenblatt.
The total was 40 percent higher than the collective $3.772 million minimum.
Although Rosenblatt’s office has told me that the public administrator typically sets minimum bids at 25 percent above appraised values, some of the properties obviously went for considerably more.
The results seem to suggest a trend of rising interest in Queens residences that was detectable in Rosenblatt’s previous event.
A Corona house that was owned by one George Williams actually was hammered down for more than twice its upset price (more…)