The city is holding an estate auction March 24 of nine apartments with minimum bids ranging from $82,000 to $680,000. It is the first such auction of Manhattan properties in months.
The sale was announced on Sunday, and, in a departure from its usual practice, the office of Public Administrator Ethel J. Griffin advertised each unit separately in the New York Times classifieds in addition to its briefer display ad than in the past.
The real estate section was the only place where details about each apartment could be found (until this post, after a tedious treasure hunt through the listings). Strangely, the ads were not visible in an online search.
But the phone number where you supposedly can obtain more information is 212-788-8455. Don’t waste your time looking for the Web site.
At least two of the co-ops have been put up before–the one at 60 Sutton Place South, which had a $100,000 lower minimum bid than now, and the one on W. 10th St. Here’s the list:
- 500 W. 55th St., Apt. 4E –estate of Bruce Saxon, 411-sf one bedroom, $251 monthly maintenance, $50,000 income limit, minimum bid: $82,000;
- 60 Sutton Place So., Apt. 3GN–estate of Mary Serra, 825-sf 3.5-room unit, $1,360 monthly maintenance, minimum bid: $680,000;
- 130-04 W. 71st. St., Apt. 2–estate of Josephine Aiello, 542-sf one bedroom, $842.95 monthly maintenance, minimum bid: $520,000;
- 134 W. 71st. St., Apt. 1–estate of Josephine Aiello, 286-sf studio, $399.86 monthly maintenance, minimum bid: $180,000;
- 251 Seaman Ave., Apt. 2J–estate of Simone Truco, 747-sf three-room unit, $610.81 monthly maintenance, minimum bid: $240,000;
- 550-H Grand St., Apt. 1C–estate of Mildred Kietelman, 924-sf two-bedroom, one bath unit, monthly maintenance $949.18, minimum bid: $475,000;
- 204-206 W. 10th St., Apt. 2–estate of Jeffrey Urr, 345-sf junior one-bedroom, $634 monthly maintenance, minimum bid: $225,000;
- 3 Hanover Sq., Apt. 9B–estate of Geoffrey Jackson, 562-sf studio, monthly maintenance $732.45 plus $113.25 assessment, minimum bid: $290,000;
- 142 West End Ave., Apt. 14W–estate of Gary Cverkus, 581-sf studio, monthly maintenance $923.92 plus $59.75 assessment, minimum bid: $310,000.
With co-ops, you get your money back in the event the building’s board of directors does not approve the purchase.
Inspection dates for the properties are March 15, 17, 21 and 22 from 11 a.m. to 2 p.m.
The auction is to take place in the elaborately designed Surrogate Courthouse, 31 Chambers St., Room 503, across from the Municipal Building. You may need identification to enter the building, which alone is worth the trip because of its extravagance.
You’ll be required to present a certified check that is payable to the Public Administrator of New York County equal to 10 percent of the minimum bid, and you should be prepared to pay cash (which, of course, means that financing in hand is acceptable) at closing. Deposits will not be refunded if you fail to comply with terms of the contract.
Any property that fails to attract a winning bidder is set for sale a second time. Finding no successful bidder then, it is turned over to a real-estate broker.
The auction is scheduled to begin at 11:30 a.m., and I guarantee you from past experience that it will not start on time.
I’ll be there so I can publish the results. If you notice someone taking notes to the left of the action as you face the auctioneer, that will be me. Say hello!
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022