Buyers snap up 113 properties at NYC auction

Real Estate Disposition Corporation’s auction of residential properties rang up a total of $10 million in sales, reports Crain’s.  Although, the second New York City auction on Sunday generated less money than its March predecessor, the event drew 1,288 bargain hunters. During the five hour event, 113 houses in the New York area were purchased.  I’ll have more on this, the earlier auction and foreclosure statistics in my biweekly newsletter on Friday.

The biggest deals included a house Continue reading

If it’s a bridge you want to buy, have I got a deal!


Consider the Upper West Side co-op in the low 80s described below. It is marketed as a 700-sf one-bedroom triplex at an asking price of $659,000 with maintenance of $927 a month. I happened upon the apartment while making my routine rounds to remain knowledgeable about the market and to write “Out and About” in my biweekly newsletter.

Here’s how the broker is listing the place (misspellings and all):

“Right off Central Park West, this absolutely beautiful one bedroom brownstone coop residence is completely irresistable! Youll feel instantly at home as brilliant sunlight floods through the 8 grand bay windows, offering views of the peaceful tree-lined street.

“The expansive tri-level layout with lofted 11 ceilings, exposed brick, *working* wood-burning fireplace, handsome architectural details and one and a half baths make for a truly lovely and unique place to live. The kitchen has been updated handsomely and features all stainless steel appliances, solid oak cabinetry and granite counters.

“Superb convenience, its just steps to the trains – not to mention all the restaurants, cafes, shopping and all the best of the Upper West Side. An absolute must-see, photos dont even do it justice.”

As every cynical buyer knows – and who isn’t cynical these days? – listing brokers are prone to hyperbole (and many are guilty of bad spelling and grammar). What is known as puffery is considered acceptable in the profession – for example, Continue reading