City’s estate auction nets $1.355 million

The city’s estate auction of five Manhattan condos and a co-op produced winning bids totaling $1.355 million.

However, three of the units went unsold at the event, which took place in the Surrogate Court’s building (left) starting at 11:30 a.m.

Following are the results, which I obtained (while supposedly on vacation) by telephone from Patricia Brown in the office of Public Administrator Ethel J. Griffin of New York County:

  • 570 Grand St., #H1305, co-op, 1,350 square feet, three bedrooms, one and a half baths with monthly maintenance of $1,009. Minimum bid: $540,000, reduced by $40,000. Winning bid: $540,000.
  • 116 Pinehurst Ave., #F53, co-op, 1,094 square feet, two bedrooms, maintenance of $1,138.36 and assessment of $142.74 monthly. Minimum bid: $620,000, a $60,000 reduction. Did not sell for second time and will be assigned to a broker.
  • 204-206 W. 10th St., Apt. 3, co-op, 345 square feet, one bedroom, $634 maintenance per month. Minimum: $325,000. Did not sell and will go on the block one more time at a date to be set.
  • 270 W. 17th St., Apt. 3H, condo, 552 square feet, three rooms, monthly common charges of $550 and annual taxes of $6,300. Minimum: $475,000. Winning bid: $555,000.
  • 550 Grand St., Apt. G12E, co-op, 780 square feet, three bedrooms, one and a half baths, $719 monthly maintenance. Minimum: $260,000. Winning bid: $260,000.
  • 3 Hanover Sq., Apt. 9B, co-op, 562 square feet, $774 maintenance. Minimum: $310,000. Did not sell and will be auctioned again.

The sales of the co-ops are subject to approval by their boards of directors. If they reject the purchaser, deposits are returned and there is no penalty.

As for the turnout, Ms. Brown said there was an “adequate” number of bidders.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
Web site

City reduces BRs of co-op to be auctioned July 29

New information today on the city’s estate auction July 29 of five Manhattan co-ops and a condo corrects the number of bedrooms of one of the properties.

The change concerns Apt. G12E at 550 Grand St., which is listed with 780 square feet.  A number of readers questioned its original description, as did I, of having three bedrooms and one and a half baths.

Now, an advertisement from the office of Ethel J. Griffin, public administrator of New York County, indicates that the unit contains three rooms and a single bath.  The minimum bid remains $260,000.

Makes a lot more sense, no?

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
Web site

Get those certified checks to bid at city auction

3 Hanover Square

Bidders will have the opportunity on July 29 to win an apartment at the city’s estate auction of five co-ops and a condo ranging from the Financial District all the way up to Washington Heights.

Manhattan Public Administrator Ethel J. Griffin will seek to dispose of the properties, which can be inspected July 13, 15, 19 and 22 from 10 a.m. to 2 p.m. each day.

Two of the properties failed to sell at the last auction, and had the amount of their minimum bids cut, so this is your second chance.  (Should they go unsold this time, the apartment will be turned over to a real estate broker to market.)  They are: Continue reading

City to auction off four co-ops and a condo

392 Central Park West is one of several buildings in Park West Village on the Upper West Side.

On March 11, as mentioned in my previous post immediately below, the Office of the Manhattan Public Administrator will dispose at an auction of co-ops and condos situated between Washington Heights and Chinatown.

The apartments are: Continue reading

Madoff belongings and real estate head to auctions

That postponed auction of apartment 11E at 1056 Fifth Avenue, along with four other Manhattan properties, now is scheduled for Nov. 19.

The 1250-sf co-op has two bedrooms and two baths, with maintenance of $2,176 month.  It is the estate of one Anne Mogol, and the minimum bid is $900,000.

That’s up from $710,000 when the auction was first announced and then postponed from the original Oct. 22 date–a clear response to the amount of interest it engendered.  (I, for one, can speak to the degree of interest from the skyrocketing number of visits to posts about the auction on this blog.)

The New York City public administrator also is putting on the block that date co-ops at 572 Grand St., 202 W. 118th St. and 1725 York Ave., plus a condo at 392 Central Park West.

Purchase of the co-ops requires board approval. Continue reading