The folks who produced the dismal auction of the Solaria in Riverdale are now offering online bidders the chance to purchase a 3,000-sf house with pool in Montauk.
Conducting the auction, which starts at 12:30 a.m. Sept. 7 and ends at an unspecified time on Sept. 11, is Real Estate Disposition Corp. (REDC).
Providing no end time suggests that sort of flexibility that REDC (and many other auctioneers) crave.
Until you read the fine print in the terms and conditions, you won’t discover that also undisclosed is the reserve price. There, too, will you find that the auction is “subject to confirmation” by the seller, in other words, it is not an absolute auction. So a bargain may prove to be elusive.
Pictured above, the property at 20 Gilbert Road, a short walk from Lake Montauk, doesn’t appeal to me in the least. But you can check out the four-bedroom, three-bath residence yourself in a virtual tour.
The two-story home commanded $1.28 million in 2006 and was listed for sale in May with a price tag of $864,000, according to Zillow. Bidding starts at $379,000, a number you should regard as a fiction that could be below the secret reserve. And don’t forget the 5% buyer’s premium, also in the small print.
You have but one day left to inspect the property, for which there will be an open house this very Saturday from 11 a.m. to 4 p.m.
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022