Winning bids total 40% above minimum in Queens

85-10 Park Lane South, Woodhaven

The estate auction of ultimately 14 properties on Tuesday produced $5.83 million in winning bids, according to Queens Public Administrator Lois Rosenblatt.

The total was 40 percent higher than the collective $3.772 million minimum.

Although Rosenblatt’s office has told me that the public administrator typically sets minimum bids at 25 percent above appraised values, some of the properties obviously went for considerably more.

The results seem to suggest a trend of rising interest in Queens residences that was detectable in Rosenblatt’s previous event.

A Corona house that was owned by one George Williams actually was hammered down for more than twice its upset price Continue reading

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Queens administrator to auction 24 properties

In Forest Hills, this house has an upset price of $724,000

An estate auction of 16 houses and eight apartments will be conducted Sept. 13 starting at 11 a.m., according to Queens Public Administrator Lois Rosenblatt.

Minimum prices range from $83,000 for a one-bedroom co-op in Jackson Heights to $724,000 for the two-story house shown above in Forest Hills.

At 77-27 Kew Forest Lane, the house is a two-story structure being sold “subject to tenancy.”  Its owner was one Stephen Nedeicu, and taxes amount to $5,860 annually.

One of the apartments on the block is a 499-sf Manhattan studio at 101 W. 12th St., which has an upset price of $330,000.

Minimum bids are set by Rosenblatt at 25 percent below the appraised value.

Below are the properties to be auctioned Continue reading