Bankruptcy auction set for a brownstone in limbo

14 Queens co-ops, houses also go on the block in March

Saga of bankrupt brownstone on the Upper West Side is coming to an end.

The bankruptcy saga of the Upper West Side brownstone, right, finally seems to be coming to an end.

The 11-unit townhouse at 313 W. 77th St. went on the market in September of 2011 at an asking price of $3.995 million.  It has languished since then.

Still, the 5,898-sf brownstone between West End Avenue and Riverside Drive is bound to fetch more than that at a bankruptcy auction.

Bankruptcy trustee Albert Togut of the Togut, Segal & Segal law firm previously entered into a contract to sell the building for $3.75 million with a tenant who has agreed to move out if an offer of at least $4.5 million is made to purchase the place vacant.

Consequently, any successful bidder below $4.5 million would have a doozy of a time Continue reading

Luxe Manhattan condo faces bankruptcy auction

View from terrace of a West Harlem penthouse to be auctioned off July 31 at a Harrison, N.Y. law office

A West Harlem penthouse with unobstructed views of Central Park and the surrounding skyline is headed for a bankruptcy auction at 10 a.m. on Friday, July 31.

Public records show that the two-bedroom, two-bath condo with 1,000-sf wraparound terrace at 125 Central Park North was purchased for $1.4 million earlier this year, and the starting bid is $950,000. According to the announcement, the value is $1.9 million. Continue reading

Buyer is found for bankrupt Harlem church

227 Lenox Avenue

That Harlem church in a brownstone building on Lenox Avenue has found a buyer prior to its scheduled auction.

Vice President Richard Maltz of the David R. Maltz & Co. auction firm told me in a telephone interview that a purchaser offered $1.166 million, including a 6 percent buyer’s premium, on Jan. 18, the first day that the property was available for inspection.  He declined to identify the buyer in what he described as company policy.  Continue reading

Harlem brownstone used as church faces auction

227 Lenox Ave.

Change of plans: Out and About will be posted next week

The bankruptcy auction of a 6,398-sf building configured as a church and including four apartments on Lenox Avenue in Harlem is scheduled for Feb. 2

Among five other properties to be auctioned are a one-bedroom co-op in Castle Village (where I once lived for 10 years) overlooking the Hudson River in Manhattan’s Washington Heights, a four-bedroom single-family home in St. Albans, Queens, and a one-bedroom co-op in Briarwood, Queens.

Springfield Missionary Baptist Church has been the owner of the central Harlem building, which is in need of renovation and lacks a proper certificate of occupancy.

At Continue reading

Bankruptcy auction set for 2BR Chelsea co-op

Living room of 101 W. 23rd St., Unit 3J, in Manhattan.

A two-bedroom, one-bath co-op in the heart of Chelsea is to be among the properties auctioned Aug. 4 starting at 11 a.m.

Other properties on the block include a single-family house in Pelham Gardens, the Bronx; a two-family residence in Bensonhurst, Brooklyn; and a two-family house in Springfield Gardens, Queens.

The renovated 950-sf Chelsea apartment, Continue reading

Unfinished eyesore on Ludlow Street heads to auction


Under construction in 2008, the Hotel Ludlow remains somnolent across the street from 179 Ludlow Street. Foreground: former bank that became an artist studio owned by Jasper Johns, later a club. ( photo)

The small, nearly completed building, at 179 Ludlow St. near Katz’s deli and across from another failed development intended to be the Hotel Ludlow, is an eyesore.  Oddly, the building–which has four apartments and a retail store–in the heart of the gentrified Lower East Side has largely been ignored by the mainstream press.

From everything I’ve been able to glean, however, calling it an eyesore is akin to likening a garbage skow to a trash can. The thing has done nothing but Continue reading