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