10 Manhattan co-ops to be auctioned Sept. 27

45 Sutton Place South

Update: The Eldridge Street property has been withdrawn from the auction.

In its first estate auction of Manhattan properties since March, the city is putting on the block 10 co-operative apartments to be sold Sept. 27.

New York Public Administrator Ethel J. Griffin is offering units ranging from Chinatown to Washington Heights.  Among them are apartments on Sutton Place South, in the Lincoln Towers complex and on Carnegie Hill.

Minimum bids range from $45,000 for one of three limited-income co-ops to $950,000 for the ones on Sutton Place South and Carnegie Hill.

Unit 5E at 45 Sutton Place South was owned by Marilyn Gilpin.  It is a two-bedroom, two-bath apartment containing 1,665 square feet, according to the public administrator.  Maintenance is $2,968 a month, plus an assessment of $175.

For comparison’s sake, #4E was listed for $1.599 million when it was pulled off the market in December of 2008 after 34 weeks, a couple of months after Lehman Brothers collapsed.  The listing celebrated that co-op’s virtues as a

magnificent corner apartment with striking open views of the East River providing a panoramic vista of NY’s northern boroughs all the way south to Brooklyn and beyond! . . .  A large master bedroom boasts views of the 59th Street Bridge and an en suite bathroom. In addition, there is a second full bathroom and a dining room with sliding doors making it a comfortable second bedroom, guest room or den. The eat-in kitchen is oversized and has a large window facing north. Other assets are: a charming bay window in the living room; enlarged and elegant foyer; . . . many built-ins and crown moldings throughout; excellent closet space; large, double glazed tilt-and-turn windows.

Unit 4E at 45 Sutton Place South

Another apartment in the line, #12E, which may or may not be somewhat larger than the other two, sold for $1.45 million in April 2009.

There have been three closed sales in the building this year — a two-bedroom of undisclosed square footage on the 11th floor for the asking price of $1.3 million, a 1,000-sf unit on the 16th floor with one bedroom and 1.5 baths listed for $650,000 and an 1,800-sf three-bedroom, three-bath apartment on the eighth floor that was listed for $2.295 million.

As for the 278-unit doorman building, it was constructed in 1959.  Among the amenities are a garage, fitness room and roof deck.  Although dogs are forbidden, washer/dryers are permitted.

If the apartment might interest you, please note that the co-op allows no more than 50 percent financing.  Also, buyers are required to pay a 2 percent transfer fee.

Also to be auctioned are the following properties:

61 E. 86th St.
  • 435 Convent Ave., #63, estate of Ruth Pugh, 1,366 square feet, two bedrooms, $1,084 maintenance plus $9o assessment, minimum bid $350,000;
  • 251 Seaman Ave., #2J, estate of Simone Trudo, 747 square feet, $611 maintenance plus $129 assessment, minimum $220,000;
  • 61 E. 86th St., #74, estate of Maria Leitner, 1,500 square feet, three bedrooms, $2,506 maintenance, minimum $950,000;
  • 128-130 W. 138th St., #2C, estate of Helen O’Garro, 499 square feet, $385 maintenance, income limited, minimum $45,000;
  •  140-142 West End Ave., #14W, estate of Gary Czekus, 581 square feet, studio, $924 maintenance plus $60 assessment, minimum $300,000;
  • 134 Eldridge St., #5, estate of Earl A. Patnode, 576 square feet, $600 maintenance, income limited, minimum $200,000;
  • 550 Grand St., #H1C, estate of Mildred Keitelman, 948 square feet, two bedrooms, $949 maintenance, minimum bid $460,000;
  • 30 Macombs Place, #1C, estate of Jessie Byrd, 528 square feet, $550 maintenance, income limited, minimum bid $50,000;
  • 570 Grand Street, #H1004, estate of Ethel Mack, 714 square feet, one bedroom, $650 maintenance, minimum bid $450,000.

Regarding the apartment on East 86th St., the 1899 building with a part-time doorman allows pets, washer/dryers and pieds-à-terres. The three-bedroom, two-bath corner unit #24 sold for $1.525 million last fall.

The units may be inspected Sept. 15, 19, 22 and 26 from 11 a.m. to 2 p.m. each day.

The auction is to take place at 1 p.m. at 31 Chambers St., Room 503, just west of the Municipal Building.

To bid, take a certified or official bank check equal to 10 percent of the minimum bid and payable to the public administrator.  The money will not be refunded unless the co-op board rejects the bidders application to purchase the apartment.

As usual, the sale terms are all cash.

The public administrator’s telephone number for further information is 212-788-8455.  Or, if you’d like  to learn more about any of the properties or would appreciate broker representation (at no cost to you), please feel free to be in touch with me.

Tomorrow: Are brokers violating the new law aimed at protecting consumers?

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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

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
Web site

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