Bankruptcy auction set for 2BR Chelsea co-op

Living room of 101 W. 23rd St., Unit 3J, in Manhattan.

A two-bedroom, one-bath co-op in the heart of Chelsea is to be among the properties auctioned Aug. 4 starting at 11 a.m.

Other properties on the block include a single-family house in Pelham Gardens, the Bronx; a two-family residence in Bensonhurst, Brooklyn; and a two-family house in Springfield Gardens, Queens.

The renovated 950-sf Chelsea apartment, which is being sold free and clear of any debts, is Unit 3J at 101 W. 23rd St. in what can be described charitably as a nondescript 1956 pet-friendly building with part-time doorman.

With an eat-in kitchen that has counters of manufactured stone and appliances of stainless steel, a bath that has a heated marble floor, glass tiles and a whirlpool tub, a customized walk-in closet, centrally controlled lighting and other features, this apartment faces east and south, presumably over 23rd Street.

The maintenance is sky-high at $2,463 monthly, probably because the building sits on leased land.

Among the building’s limited amenities are a bike room, storage room and laundry on each floor.

Inspection times of the property are today and next Monday, Aug. 1, from 5 p.m. to 7 p.m.

The auction is to be held Aug. 4 at 11 a.m., with registration starting at 10:00 a.m., at the LaGuardia Airport Marriott Hotel, 102-15 Ditmars Boulevard, East Elmhurst.  David R. Maltz & Co. is conducting the sale.

Starting on March 24, the 23rd Street co-op was listed at $449,000.  The price was cut to $424,000 that July, then to $410,000 just one week later.  Last September, the asking price went up to $420,000, where it remained until the apartment was taken off the market in October.

To bid on the unit, you’ll need to present a $25,0o0 certified check payable to “Salvatore LaMonica, Esq., as Chapter 7 Trustee” upon registering at the auction.

Be warned that the information on the Maltz auction site seems to suggest that any buyer will need the co-op board’s approval of the purchaser. (Although the site encourages visitors to download the sale terms and conditions, I didn’t find them.)

Tomorrow: Out and About

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

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