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.” Continue reading
Condominium called the Ice House at 27 North Moore St. in Tribeca
The sale of a condo with a minimum bid of $3 million is the highlight of a new estate auction scheduled for June 28 by Public Administrator Ethel J. Griffin.
Among the eight other apartments to go on the block starting at 11:30 a.m. are three income-limited units, a co-op in the Kips Bay neighborhood and one on the Upper West Side in the Lincoln Towers complex.
The $3 million unit is in the Ice House, at 27 North Moore St., in Tribeca. It was owned by one Veronica Lee, but I have been unable to find verifiable information about her.
What I know is that Continue reading
The impossibly ornate Surrogate's Courthouse, where the auction was held.
Public Administrator Ethel J. Griffin’s poorly attended estate auction of nine apartments Tuesday produced sales totaling only $2.374 million.
Five of the properties ranging in location from Chinatown to Washington Heights failed to attract even one bidder. A co-op on West End Avenue in Lincoln Towers sold to a sole bidder for its minimum of $300,000.
There were just two bidders for Continue reading
45 Sutton Place South
Update: The Eldridge Street property has been withdrawn from the auction.
In its first estate auction of Manhattan properties since March, the city is putting on the block 10 co-operative apartments to be sold Sept. 27.
New York Public Administrator Ethel J. Griffin is offering units ranging from Chinatown to Washington Heights. Among them are apartments on Sutton Place South, in the Lincoln Towers complex and on Carnegie Hill.
Minimum bids range from $45,000 for one of three limited-income co-ops to $950,000 for the ones on Sutton Place South and Carnegie Hill. Continue reading
Surrogate's Courthouse in Manhattan, site of public administrator auctions.
Auction aficionados are well aware that each of the public administrators in the city’s boroughs holds auctions usually three or four times a year to unload properties of owners who died without a will.
Every time I publish a post about an upcoming auction along with the minimum bids, I can count on Internet chatter to the effect that the apartments and townhouses going on the block don’t add up to bargains. To commenters, the minimum bids invariably seem too high.
I got to wondering how the public administrators decide on the minimum. Continue reading
This is the best I ever can manage for a forbidden photo inside the impossibly lush Surrogate Courthouse.
Only a couple of dozen hopefuls turned out for the city’s estate auction in the Surrogate Courthouse yesterday, so two lone bidders ran away with co-ops at the minimum asking price.
Lawyer Glenn Ostrager was the sole bidder for the 825-sf apartment at 60 Sutton Place South, which he won for $580,000. Paddle in hand, a second bidder dropped out before the auction even started after hearing the sale conditions read; among other things, the buyer is required to replace the metal-framed windows and the sliding glass door to the balcony.
Ostrager, who declined to be photographed or quoted much, said he lived in the area and planned to move into the new place. That’s provided the board approves the sale.
Asked how he felt about succeeding with his bid, the lawyer responded by saying just this:
“I don’t have any reaction.”
Ostrager seemed like a nice enough guy, but let’s say that he wouldn’t be my first choice for a dinner companion.
No one showed up to bid on the units offered at Continue reading
60 Sutton Place South
Co-ops ranging from Sutton Place South to Washington Heights are scheduled for another of the city’s estate auctions on Aug. 26.
Among the units to be sold is an 825-sf apartment at 60 Sutton Place South, a 1953 building in which 11 of 357 co-ops are on the market with asking prices from $605,000 for a 750-sf residence to $2.495 million for one of 2,410 square feet.
Manhattan Public Administrator Ethel J. Griffin will seek to dispose of the properties, which can be inspected Aug. 12, 17, 19 and 24 from 10 a.m. to 2 p.m. each day. The following co-ops go on the block starting at 11:30 a.m. (usually later, however), and I expect to be there: Continue reading