Tribeca loft goes for $3.15 million in city auction

The Ice House, 27 N. Moore St. in Tribeca.

With only a single competitor, a Long Island man won a two-bedroom, two-bath condo at 27 N. Moore St. for the favorable price of $3.15 million at the city’s auction of nine apartments in Manhattan today.

Public Administrator Ethel J. Griffin had set the minimum price at $3 million for the more than 2,000-sf loft, which had been owned by one Veronica Lee in a building called the Ice House.  According to Curbed.com, Lee paid $774,000 for the unit in 1999 and died owing JP Morgan Chase $1.9 million left on her mortgage.

“I feel good,” successful bidder Mario Montoya told me after the auction, adding that he had been prepared to offer “a little more.”

Declining to specifiy the city of his current residence, the affable winner said that he was “in finance” and the married father of three children.  He gave his age as “mid 40s” and indicated that he would fix up the loft.

When the work is completed, Montoya said that he plans to move with his family into the Tribeca condo, which was hammered down in four minutes.

Nine properties on the block had minimum prices totaling, $6.097 million, but the public administrator collected just $4,537,500.  With four properties finding no bidders at the auction in the Surrogate’s Courthouse near City Hall, the proceeds amounted to 74 percent of Griffin’s bottom line.

A co-op in the Kips Bay neighborhood went to a lone bidder for its minimum of $1.05 million, while one on the Upper West Side in the Lincoln Towers complex listed for $930,000 went begging.

As for the Kips Bay apartment, it is one of the biggest units in the 1963 New York Towers, which has 388 apartments on 20 floors.  Also big is the Lincoln Towers property, built in 1961 with 450 apartments on 29 floors.

Below are the offered properties and the results:

  • 180 West End Ave., #20L, estate of David Feldman, 1,225 square feet, two-bedroom, two-bath co-op, $2,136 maintenance,$930,000 minimum/unsold;
  • 210 East Broadway, #H1307, estate of Minnie Sloan, 722 square feet, one-bedroom co-op with balcony, $621 maintenance plus $33 assessment, $438,000 minimum/unsold;
  • 27 North Moore St., #3C, estate of Veronica Lee, 2,052 square feet, two-bedroom, two-bath condo, $1,154 common charges, $14,520 annual taxes, $3 million minimum/$3.15 million;
  • 788 Ninth Avenue, #3B, estate of William Campbell, 457 square feet, one-bedroom co-op, $882 maintenance plus $172 assessment, $274,000 minimum/unsold;
  • 128-130 W. 138th St., #3B, estate of Beatrice Johnson, 524 square feet, three-room HDFC co-op subject to maximum income limits, $385 maintenance, $70,000 minimum/$82,500;
  • 128 W. 138th St., #3F, estate of James Johnican, 430 square feet, one-bedroom HDFC co-op subject to maximum income limits, $330 maintenance, $65,000 minimum/$65,000;
  • 305 E. 24th St., #15S, estate of Paul Rood, 1,584 square feet, five-room, two-bath co-op with large terrace, $2,292 maintenance, $1.050 million minimum/$1.05 million;
  • 523 W. 143rd St., #2B, estate of Randolph Woods, 1,090 square feet, six-room HDFC co-op subject to maximum income limits, $522 maintenace, $150,000 minimum/$190,000;
  • 100-106 W. 141st St., #26, estate of Emmanuel Etienne, 1,052 square feet, six-room HDFC co-op subject to maximum income limits, $875 maintenance, $120,000 minimum/unsold.

Properties that go unsold are put on the block one more time and then go to a real estate broker in the event they no one bids on them.

Also recently auctioned in the metropolitan area were properties sold by David R. Maltz & Co.  They included seven bankruptcy, estate and foreclosure sales in Queens and Nassau counties.

In Astoria, a home at 20-58 47th St., went for $615,000.  A Long Beach residence at 414 Oceanfront St. drew a winning bid of $800,000.

Other results: 9 George St., Glen Cove, $310,000; 31 Ava Drive, $375,000; 217 Mount Joy Ave., Freeport, $200,000; and 76 Roosevelt Ave., Inwood, $270,000. One house was withdrawn prior to the event.

Tomorrow: Weekly Roundup

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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
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