Bankruptcy forces auction of Times Square condo

The apartment is on the 10th floor of this 2006 building.

A Chapter 7 bankruptcy auction will be held March 19 for a 668-sf one-bedroom condo in this building in the heart of Times Square.

In addition, there will be an auction of lesser properties at the end of the month and, in March as well, of five properties that are scattered between Chinatown and Washington Heights; the five apartments belong to the city as the result of owners who died without wills.

Although I wouldn’t want to live in such an overrun area with a limited amount of amenities that are found in typical residential areas, you may find the Times Square pad appealing.  But bear in mind that the winning bid probably will be above 75 percent of its current value.

The unfortunate owner bought the place in March of 2007, when it was listed for $895,000.  Continue reading

Now, 2 more luxury condos on the block this week

Two sensational condos are to be auctioned this week in Manhattan.

Museum Tower

Museum Tower

One is a 1,204-sf one-bedroom apartment on the 18th floor of the Museum Tower.  To be sold fully furnished, the condo has a Midtown address: 15 W. 53rd St., #18F.  With high ceilings, floor-to-ceiling windows and one and a half baths, the unit is in a building with every imaginable amenity.

The owner was Dan Wise, accused in April of running a $67 million Ponzi scheme based on phony real estate investments.

The other one is an 889-sf unit with balcony overlooking Times Square from the 11th Floor.  Its address is 1600 Broadway, #11B.  Continue reading