- More than 200 persons crowded into a courtroom in State Supreme Court, Brooklyn, for Tuesday’s auction.
With a total of $9,304,000 in winning bids, Tuesday’s estate auction by King’s County Public Administrator Bruce L. Stein produced mixed results.
Many properties enjoyed spirited bidding, topping the minimum amounts substantially, while others went begging.
Excluding the single-family house that was withdrawn at the outset, minimum bids totaled $13,582,000. The proceeds consisted of just 69 percent of that sum.
Six of the houses and co-ops on the block received no bids (26 percent), three Continue reading
One of my buyers expected to close on his purchase in February. Settlement was scheduled only yesterday, for July 26.
It’s not that his attorney didn’t try to ensure a prompt closing or that he hasn’t been nagging the seller’s attorney or that I haven’t been nagging the broker. The sad fact is that there is no way to force the issue.
In my client’s case, the problem is that Continue reading
- Flickr photo by Petra Senders
When you see the words “estate sale” in a listing, you know you’re in for a property that’s going to need a ton of work.
And when that listing omits photos, you can be sure the place will be a wreck.
It’s one thing to imagine what you’ll find, quite another to see it in person
A co-op in the low 100s between Amsterdam Avenue and Broadway makes the point emphatically.
Offered for $750,000 with monthly maintenance of $730, this two-bedroom, one-and-a-half bath unit, plus maid’s room, on a lower floor of a dreary 1909 building with virtually no amenities has nothing going for it but potential.
Unfortunately, Continue reading
Luxury markets pulls up Q2 average price, though volume declines
Overall sales volume of condominiums and cooperative apartments in Manhattan has been off about 11 percent so far in the second quarter compared with same period last year, according to a Wall Street Journal analysis of the city’s data.
A year ago, the market was bouncing back strongly from the after-effects of the financial crisis.
Prices have remained flat. Data on closings show that median prices in the second quarter were 1.2 percent below prices during the year-earlier period, while average prices rose by 1.5 percent.
The average price for a Manhattan apartment was about $1.39 million in the latest period. The figures are based on closings filed with the city as of 15 days before the end of each quarter.
Russians are invading Continue reading
(Flickr photo by dampbeebe)
When Jeff Kwong and Bob Moriarity were searching for a one-bedroom apartment in Manhattan, they e-mailed “several” agents.
So reported the New York Times in its Sunday feature called “The Hunt” last weekend.
The only one to respond, the newspaper reports, was one Penny Crone, who eventually helped them land a place they like.
Good for her!
I wish I could say I was amazed by the paucity of replies, Continue reading