City plans to sell Brooklyn properties at auction

Brooklyhn Borough Hall

King’s County Public Administrator Bruce Stein has scheduled the auction of 16 Brooklyn properties on May 22.  It is the first such estate auction  by the city in that borough since last June.

The properties, which were owned by individuals who died without wills, have minimum bids ranging from $275,000 to $1.6 million.

The following properties are scheduled to be auctioned:

Of those on the auction block, five failed to find buyers the last time around: E. 85th St.,64A Jewel St., 28 Paedergat 7th St., 151 Prospect Ave., and 163A Halsey St.

Inspection of the properties is scheduled for May 19 from 10 a.m. to 4 p.m. and May 20 from 11 a.m. to 4 p.m.

The auction is to take place in Brooklyn Supreme Court, 380 Adams St., at 1 p.m., but I have never seen one of these events start remotely on time.

The usual terms apply — for example, a requirement to present 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.

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

M: 347-886-0248
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