June 28 auction date set for Brooklyn properties

1618 Union St.

Twenty-two single-family homes and five co-ops are to be auctioned by the King’s County public administrator on Tuesday, June 28 at 2 p.m.

The properties, which were owned by individuals who died without wills, have minimum bids ranging from a low of $65,000 to as much as $3.6 million.

Pictured below, the $3.6 million townhouse, which is in the heart of downtown Brooklyn across from the City Point development, went on the block last December with an upset price of $4 million.  There were no bidders.

In fact, the auction was lackluster, so other unsold properties that went on the block six months ago have reappeared as well.

However, an auction by the Queens public administrator last week brought more than $3 million into the city’s coffers and seemed to be reasonably successful, given the robust bidding for those houses and apartments for which there was buyer interest.  Perhaps the Kings County auction will reflect heightened demand as well.

The following properties are scheduled to be auctioned:

Inspection of the properties is scheduled for June 25 from 10 a.m. to 4 p.m. and June 26 from 11 a.m. to 4 p.m.  Two of them may be viewed only from outside (a limitation that is equivalent to buying a pig in a poke).

436-438 Albee Square

The auction is to take place in Brooklyn Supreme Court, 380 Adams St., and the usual terms apply. You’ll need a certified check payable to you or the public administrator of Kings County equal to 10 percent of the opening bid, plus a blank check for the difference should you win.

At this writing you’ll find little more than what I have posted here about the auction itself on the public administrator’s Web site, though there is detailed information about the terms.

Given the number and range of properties on the block, I hope to attend, Tweet some of the results live and post details the following day.

Meantime, should you fail to win the home of your dreams.  There’s another auction for a single property, in Williamsburg, on July 7.

That's me!

That’s the bankruptcy sale of a 12-story rental building designed by Karl Fischer Architects and built in 2009.  Inspection is June 28 at 11 a.m., conveniently before the public administrator’s event, and June 30 at 11 a.m.

The address is 480 Humboldt St., and the minimum opening bid, $7 million.

I won’t be attending that auction, but maybe I’ll see you at the public administrator’s. If you spot me, I hope you’ll say hello.

Tomorrow: Out and About: The Unkindest Cut

Subscribe by Email

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

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s